India’s GDP Beats Forecast To Clock 4.8 Percent

India’s GDP grew at a faster clip in the fiscal second quarter to clock 4.8%, compared with 4.4% reported in the preceding quarter. Asia’s third-largest economy’s growth in the three months ended September 30th narrowly beat analysts’ forecasts. Disappointing recent performance Recently, Societe General Cross Asset Research noted India’s three-year average current account deficit was below the 4% ‘redline’ threshold. It’s not surprising that Asian currencies have been roiled in the turmoil after the Fed’s taper threat. SocGen thinks India faces two structural problems relating to indebtedness: a very high and chronic public sector debt, and a private sector debt that…