GDP will see contraction very soon

Many learning economists are amused at 5% GDP figures shown by government.

In my opinion this is jacked up figure and in reality we are already contracting. However within a year (before 2014) we will see official figures of GDP contraction.

Brazil which has gone in the same route is paying for its sins now and it is matter of time for us.

Subbarao somehow understood this and made right noises yesterday. But it is too little too late. Subbarao can pray whatever collapse has to happen after September once he retires.  But nobody can save this crazy country.