India's GDP, Rice output, Sugar export subsidy

1. India's Q1 GDP growth is 7.9%, lowest since 2004. There have been different estimates of the GDP growth for year 08-09. Some have been very optimistic forecasting more that 9%. With inflation taking time and ease and tighter credit policy, only time will tell how much we grow this year. Till then, lets leave the job of forecasting the growth to economists and stock market analysts. By simple law of probability half of them will be correct :p

2. Quite contrary to a news today, this one says that India may produce record rice this year. "India's rice production in this agriculture year may breach the record output of 96.43 million tons in the last year on the back of increased acreage even as floods in some producing areas have hit the kharif crop, a top government official said today."

3. Chidambaram says India must stop sugar export subsidy.