New York: A whopping majority of Indians blamed the government for the country's current economic woes, with nearly half pessimistic over chances of a revival over the next one year, a new survey has said. Countrymen project GDP growth at 6.9 pc Indians have projected that the GDP growth will be 6.9 percent in 2012.
A whopping 92 percent of Indians blamed the government for their economic problems, while 17 percent put the blame on banks and financial institutions, according to the Pew Research Centre.
While in 2011, 51 percent Indians were satisfied with the direction of the country, in 2012 that percentage dropped to 38 percent.
Another 49 percent feel the economic situation will remain the same and worsen in the next one year, the Pew Research said.
Slow pace of reforms, huge fiscal deficit, rising inflation, corruption and a falling rupee have eroded the confidence of the Indian public in the UPA-led government.
"The economic mood is exceedingly glum all around the world" and the public mood has worsened since 2008, with the global economic crisis "widely eroding" support for capitalism, Pew said.
On an average, just 27 percent think their national economy is doing well, according to a survey in 21 countries.
Only in China (83 percent), Germany (73 percent), Brazil (65 percent) and Turkey (57 percent) do most people report that current national economic conditions are good.
Among those who think the economy is doing poorly, people in 16 of 21 countries fault their own government.
Particularly angry at their leadership are the Pakistanis (95 percent blame the government as a primary or secondary culprit), Indians (92 percent), the Mexicans (91 percent), the Japanese (91 percent), the Czechs (91 percent) and the Poles (90 percent).
The report however said there is a "striking contrast" between the economic outlook in the emerging markets of Brazil, China, India and Turkey and that of the European Union and the US.
People living in these emerging economies are generally more likely than Americans or Europeans to say that they are doing better than their parents.
They are twice as likely as Americans and more than three times as likely as Europeans to think economic conditions in their countries are good.
In only six of the 21 nations surveyed do half or more of the population think national economic conditions will improve over the next 12 months.
This includes very optimistic Brazilians (84 percent), Chinese (83 percent) and Tunisians (75 percent) and relatively optimistic Americans (52 percent), Mexicans (51 percent) and Egyptians (50 percent). Only 45 percent of Indians see a better economy on the horizon.
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New York: A whopping majority of Indians blamed the government for the country's current economic woes, with nearly half pessimistic over chances of a revival over the next one year, a new survey has said.
Countrymen project GDP growth at 6.9 pc
Indians have projected that the GDP growth will be 6.9 percent in 2012.