Indian Economy: Growth -3

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<!--QuoteBegin-->QUOTE<!--QuoteEBegin--><b>Govt admits to ailing economy</b>
pioneer.com
Santanu Banerjee | New Delhi

Plan panel paper warns of its shadow in 2009-10 too

The global meltdown and weak southwest monsoon are all set to impact the Indian economy adversely this fiscal, admits UPA-II in the agenda paper for the full Planning Commission meeting on Tuesday.

Sources said that the agenda paper admits that the global slowdown — which began in 2007 and snowballed into a major crisis in 2008 – would continue to affect performance of the Government in 2009-10 too.

Despite the Indian economy growing by 6.1 per cent during the first quarter of this fiscal, the erratic monsoon may dampen growth in the forthcoming quarters. The GDP has improved marginally from 5.8 per cent in the previous two quarters, though it was much higher at 7.8 per cent in the first quarter of last fiscal, according to figures released by the Central Statistical Organisation (CSO) on Monday. The data showed that manufacturing and some services like hotels are yet to fully come out of the crisis.
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I thought Queen Sonia and Moron Singh are ruling, sea level will go down, good monsoon and prosperity all around in India.
What happened?