VOA标准英语2009年-India's Economic Mood Turns Optimistic

By Anjana Pasricha
New Delhi
08 October 2009

 
A worker adjusts goods inside the newly inaugurated first Wal-Mart store in Amritsar, India, 30 May 2009
As India's economy begins to recover from the impact of the global financial crisis, companies have again started recruiting staff and handing out pay raises. The mood is in sharp contrast to a year ago, when the global economic downturn put an abrupt¹ end to a five-year economic boom in the country. 

Twenty-five-year-old Trishna Mukherjee is a post-graduate business management student at one of India's premier² business schools in New Delhi. When she began her course work this year, she was worried that it might be tough to land a job when she graduates.

She had reason to be concerned. Nearly half the class of 2009 did not find suitable jobs when they graduated in April. That was not surprising. Just as in many other countries, Indian companies had stopped recruiting staff as they coped with the global economic downturn. 

But Mukherjee says the mood on college campus is now much more upbeat. 

"When we went there, a lot of our alums [alumni] had not gotten placed. So we would still see them constantly coming to campus, still taking their interviews. And, obviously, somewhere we were a little worried as to what would happen when we get to that point. Now, it's much better.  We already have people coming to campus. There is already a buzz around. And, now we see things are getting better. So people are much more relaxed," said Mukherjee.

As India emerges from the global downturn faster than many countries, companies here have announced plans to start hiring again. And, as people gear up to celebrate the country's main festival, Diwali, next week, employers are handing out pay hikes and bonuses to staff.    

Although India was less affected³ by the downturn, compared to Western countries, many hard hit-sectors⁴ downsized in the past year. Almost all companies had put salary raises and bonuses on hold, as profits declined. 

But, now, sectors such as finance, insurance, services, information technology and retail⁵ are back to hiring.

Naresh Malhan, who heads the job consultancy firm Manpower India, says a recent global survey shows that India's job market is more buoyant than that of other countries.

"India is on top. The maximum number of employers who had positive intent to hire is highest in India, in comparison to any other country. In order of sequence, India is leading, then would be Brazil, then will be Colombia, then will be Peru, and then will be China, Australia, and then Singapore," said Malhan.       

The government says the economy is back on track and is eyeing growth of more than six percent, this fiscal⁶ year. In the last year, it has passed three stimulus⁷ packages and cut interest rates and taxes to boost spending. These measures have helped bring consumers back to markets and industrial activity has picked up.

An economist⁸ at the Federation⁹ of Indian Chambers¹⁰ of Commerce and Industry, Anjan Roy, says business confidence is higher than it has been in the past year.

"Indian industry has turned around and the slowdown is wearing out. These are the early days, when the expansion growth triggers are once again operating and we expect this should go on, provided there is no reversal of these basic policy parameters," said Roy.

Concerns remain. Businesses are worried that the government could raise interest rates to check rising inflation and food prices. A drought in much of the country and flooding in other parts has hit agricultural growth and will dampen the rural economy. And, there are fears that any reversal in the tentative economic recovery being seen in several Western countries could stall momentum¹¹ in India. 

Economists¹² also warn that the economy may be improving, but it is unlikely to reach the levels of over eight percent growth witnessed for four years prior to the global financial crunch¹³. At that time, Indian industries were turning in huge profits and rising salaries had brought new affluence¹⁴ to the middle class.

Business management student Mukherjee says the expectations of her class are more modest than those of students who graduated during the economic boom India witnessed between 2004 and 2008.   

"Definitely our salaries and our remuneration will not be as good as it was three years back or two years back, but I think we should be okay this year," said Mukherjee.

India is Asia's third-largest economy. International institutions, such as the World Bank and International Monetary Fund, have said that countries like India and China will help pull the global economy out of the worst recession seen in recent decades

1 abrupt   

adj.突然的，意外的；唐突的，鲁莽的

参考例句：

• The river takes an abrupt bend to the west.这河突然向西转弯。
• His abrupt reply hurt our feelings.他粗鲁的回答伤了我们的感情。

2 premier   

adj.首要的；n.总理，首相

参考例句：

• The Irish Premier is paying an official visit to Britain.爱尔兰总理正在对英国进行正式访问。
• He requested that the premier grant him an internview.他要求那位总理接见他一次。

3 affected   

adj.不自然的，假装的

参考例句：

• She showed an affected interest in our subject.她假装对我们的课题感到兴趣。
• His manners are affected.他的态度不自然。

4 sectors   

n.部门( sector的名词复数 )；领域；防御地区；扇形

参考例句：

• Berlin was divided into four sectors after the war. 战后柏林分成了4 个区。 来自《简明英汉词典》
• Industry and agriculture are the two important sectors of the national economy. 工业和农业是国民经济的两个重要部门。 来自《现代汉英综合大词典》

5 retail   

v./n.零售；adv.以零售价格

参考例句：

• In this shop they retail tobacco and sweets.这家铺子零售香烟和糖果。
• These shoes retail at 10 yuan a pair.这些鞋子零卖10元一双。

6 fiscal   

adj.财政的，会计的，国库的，国库岁入的

参考例句：

• The increase of taxation is an important fiscal policy.增税是一项重要的财政政策。
• The government has two basic strategies of fiscal policy available.政府有两个可行的财政政策基本战略。

7 stimulus   

n.刺激，刺激物，促进因素，引起兴奋的事物

参考例句：

• Regard each failure as a stimulus to further efforts.把每次失利看成对进一步努力的激励。
• Light is a stimulus to growth in plants.光是促进植物生长的一个因素。

8 economist   

n.经济学家，经济专家，节俭的人

参考例句：

• He cast a professional economist's eyes on the problem.他以经济学行家的眼光审视这个问题。
• He's an economist who thinks he knows all the answers.他是个经济学家，自以为什么都懂。

9 federation   

n.同盟，联邦，联合，联盟，联合会

参考例句：

• It is a federation of 10 regional unions.它是由十个地方工会结合成的联合会。
• Mr.Putin was inaugurated as the President of the Russian Federation.普京正式就任俄罗斯联邦总统。

10 chambers   

n.房间( chamber的名词复数 )；（议会的）议院；卧室；会议厅

参考例句：

• The body will be removed into one of the cold storage chambers. 尸体将被移到一个冷冻间里。 来自《简明英汉词典》
• Mr Chambers's readable book concentrates on the middle passage: the time Ransome spent in Russia. Chambers先生的这本值得一看的书重点在中间：Ransome在俄国的那几年。 来自互联网

11 momentum   

n.动力，冲力，势头；动量

参考例句：

• We exploit the energy and momentum conservation laws in this way.我们就是这样利用能量和动量守恒定律的。
• The law of momentum conservation could supplant Newton's third law.动量守恒定律可以取代牛顿第三定律。

12 economists   

n.经济学家，经济专家( economist的名词复数 )

参考例句：

• The sudden rise in share prices has confounded economists. 股价的突然上涨使经济学家大惑不解。
• Foreign bankers and economists cautiously welcomed the minister's initiative. 外国银行家和经济学家对部长的倡议反应谨慎。 来自《简明英汉词典》

13 crunch   

n.关键时刻；艰难局面；v.发出碎裂声

参考例句：

• If it comes to the crunch they'll support us.关键时刻他们是会支持我们的。
• People who crunch nuts at the movies can be very annoying.看电影时嘎吱作声地嚼干果的人会使人十分讨厌。

14 affluence   

n.充裕，富足

参考例句：

• Their affluence is more apparent than real.他们的富有是虚有其表。
• There is a lot of affluence in this part of the state because it has many businesses.这个州的这一部分相当富有，因为它有很多商行。