Well here we are in 2010 after traumatic 2009 which saw a lots of ups and downs or rather downs and downs in world wide economy and India wasn't a exception to it.  Since,  its largest trading partner US was feeling the heat so it has its effects on India's economy too . Though Indian banking system didn't feel that much of heat due to RBI's excellent measures which were earlier considered very conservative but now being upheld, other sectors like manufacturing, IT services etc. were hit hard and job cuts, lack of new opportunities gripped market. Some being real worries whereas others being just speculations. Government took some preventive steps like providing stimulus packages and increasing job opportunities in public sector companies, some how economy managed a 6.7 % of positive growth rate which according to some agencies was to stay between 5-6% only.

Well that's the story of Indian economy in brief for the period of 2009 but what we are looking at now is more important. The scene looks promising:

Auto sale up by 45%, IT majors like Wipro and TCS announcing of hiring 7,500 and 30,000 people respectively, airlines too have started recruitment process of pilots, cabin crew indicating jobs are surfacing again, forecasts of electronic sector to rise at 11%, IT industry at 5.5%,   prime minister's economic advisory council recommending partial roll back of stimulus package, forecasts by CSO  of growth rate being 7.2%, by finance ministry to be around 7.75%  and all... seems like economy getting back on track but what I'm worried about is the food prices. What the hell happening on that front? It has been rocketing since last year. I know world wide shortage of food which was fueled by severe drought situation in India are behind this mess up but mismanagement is also one of the major causes. I don't know if proper management itself would have been enough to nullify the shortage created by drought but I'm sure it would have reduced its effect to a greater extent.  I don't think tightening monetary policy alone going to help much. Ignorance of agriculture sector, irresponsible behavior, bad policies and lethargic actions against profiteers can't be overlooked. It would be really interesting to see how much agriculture supports in economy's  growth rate and how much it drags down it during 2010.