Wednesday, February 07, 2007

India Growth in 2007 Seen as Massive

It looks like India might be one of the fastest growing countries this year according to this.
On Wednesday, India's Central Statistical Office changed its gross domestic
product estimate for fiscal year 2007, which ends in March, to 9.2%.
The government recently revised its GDP estimate for fiscal year 2006 to 9% from 8.4%.

This seems to be one of the reasons given by the government and India watchers:

The so-called National Rural Employment Guarantee Scheme guarantees
that one member of each of India's 60 million rural households will work for 100
days every year or receive unemployment benefits if there's no work.


Now that is a pretty weird sort of name. They put the word scheme right in the name to make it seem kind of like a crazy experiment that might not work. They should have just given it a more American name like No Rural Worker Left Behind or something like that.

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