Australian Economy This year

It seems as though Australia has done pretty well for themselves coming through the recession. Over the past few years Australia was the first G-20 nation to tighten monetary policy. People generally refer to Australia as the Canada of down under. The two countries seem interchangeable aside from the goofy accents!
In 2009 Australia had its lowest amount of growth in a few years, but it was still at .8%. It is not a negative!
Australia relies on its tourism and service sectors.

Growth in India

India’s economy is expected to grow 8.5% in the current year and 9% in 2010/11, Prime Minister Manmohan Singh said on Friday.
“However, high unemployment in countries that are industrialized, threatens a revival of protectionist sentiment, especially since the use of conventional monetary and fiscal tools to revive the economy has been exhausted,” he said in a speech at the plenary session of the G-20 summit in Seoul.
India’s economy grew 9% in each of the four years prior to the economic crisis but slowed to 6.7% growth in 2008-09.
“Uncertainty about the prospects of inudstrialised countries affects the investment climate and dampens the medium-term growtn prospects of emerging market countries,” Singh said.

GDP in India for the last years

The GDP of India, even after the opening up of the economy and other relaxed norms couldn't survive the aftermath of the global financial crisis. The GDP of India over the past two fiscals (2008-09 and 2009-10) experienced considerable slowdown. india should Expecte  a 9% GDP growth by 2012 is immensely impractical, looking at the rate at which things are improving.

In my opinion, one reason of the for fall in 2008 is the economy the power of the purshase in india and china is went up and this make the inflation. that what I thinks what happen in the big falls.

economic overview of India and it's Inflation Rate

ECONOMIC OVERVIEW OF INDIA

Country	Interest Rate	Growth Rate	Inflation Rate	Jobless Rate	Current Account	Exchange Rate
India	5.00%	8.80%	11.25%	8.00%	-13	45.0150

INFLATION 2008-2010 (MONTHLY PERSPECTIVE)

Year	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2010	16.22	14.86	14.86	13.33	13.91	13.73	11.25
2009	10.45	9.63	8.03	8.70	8.63	9.29	11.89	11.72	11.64	11.49	13.51	14.97
2008	5.51	5.47	7.87	7.81	7.75	7.69	8.33	9.02	9.77	10.45	10.45	9.70

* The table above displays the monthly average

The inflation rate in India was last reported at 11.25 percent in July of 2010. Inflation rate refers to a general rise in prices measured against a standard level of purchasing power. The most well known measures of Inflation are the CPI which measures consumer prices, and the GDP deflator, which measures inflation in the whole of the domestic economy. This page includes: India Inflation Rate chart, historical data and news

Australia GDP Growth Rate

This chart shows what happen 2006 to 2010. Gross domestic product advanced 1.2 percent from the first quarter, when it rose a revised 0.7 percent, the Bureau of Statistics said. Australia’s economy grew 3.3 percent from a year earlier. as we see the real GDP  in the economy is often used as an indicator of the average standard of living of individuals in that country as we see from the picture GDP is getting better form last year. I think the will be riase if the infolation goes down.

CWG's Economic Impact On India's GDP Seen At $4,940 Mln.

The CWG 2010, will be presented in delhi india, 2010. It is likley having what most people are sayen an impact of $4,940 million on India's economic growth during the four-year period ending 2012. It is also likely to create an employment opportunity to about 24.70 lakh people.

CWG 2010 in India, is almost likely to have an impact of 3 times or more, as compared to Melbourne CWG's impact on Australian GDP in 2006.

http://www.rttnews.com/ArticleView.aspx?Id=1435370

posted by Jad Masri, and his teamates Mohammed, and Graham.

Australia vs India

If we were to compare India and Australia there are a lot of differences. I know macro is about the economy, but we need to take into account lots of things that affect the economy. If we compare information from the article http://www.newsweek.com/2010/08/15/interactive-infographic-of-the-worlds-best-countries.html

we will find that Australia ranks much higher in Education (14th and 88th out of 100 countries), Health (7th and 81st), Quality of life (11th and 87th), and Political Environment (16th and 48th). On Economic Dynamism the ranking is a little bit closer (18th and 38th). 

The past few years have been very tough on the world as a whole. It is interesting though to see India coming up in the world as one of the fastest growing economies. As per the bloomberg report on Sept. 27, 2010 http://www.businessweek.com/news/2010-09-26/india-economy-forecast-to-grow-8-5-this-year-ahluwalia-says.html

there is an estimated growth of 8.5% this year. India is still a developing nation, but is having a fantastic growth period and emerging as one of the top software developers, and producers in the world. 

Australia has had her share of tough economic times in the past, but continues to build upon its strong commonwealth history. They continue to lead in exports of mining material and raw resources. 

It will be fun to look at how the economies and the health of these two countries change over the next months.