P. Chidambaram, Union Finance Minister, on February 27, presented the 2012-13, Economic Survey in the Lok Sabha. World trade in goods & services attained and exceeded pre-crisis heights in the year 2011. Yet, the deceleration in world trade and growth in the year 2012 and prediction of only a plodding upsurge in global expansion by global institutions mirrored a puny and sluggish recuperation for world trade.
Exports of India, which had exceeded pre-crisis levels within 1 year in 2010-11 with a trace 40.5 % augmentation, sustained increasing even in 2011-12, but were lastly exaggerated by the comprehensive brake in 2012-13 with exports waning even more at - 4.9 % in the first 10 months than the -3.5 % witnessed during 2009-10.
The reasons for the downfall in export enlargement were found
1. The external factors and partner country incomes
2. The alterations in exchange rate.
Lets play Kaun Banega Crorepati !!!
