India functioning without leader: Premji

Some analysts reports released on Tuesday noted Premjis observations on the economy.

Premji has in the recent past criticised Indias governance. In October he warned that the complete absence of decision-making among leaders in the government might cost the country dear.

At the analysts meet,Wipro,Indias third-largest software services exporter,maintained its cautious outlook on the current macro environment,and indicated slow demand in its banking and financial services vertical.

Meanwhile,the World Bank predicted on Tuesday that the Indian economy would grow by 6.9 per cent in 2012-13,problems like policy uncertainties,fiscal deficit and inflation notwithstanding.

India will see growth measured at factor cost increasing to 6.9,7.2 and 7.4 per cent in fiscal years 2012-13,2013-14 and 2014-15 respectively, the World Bank said in the report titled Global Economic Prospects .

Referring to developments in 2011,the Bank said that growth in India was particularly weak due to monetary policy,stalled reforms and electricity shortages. These factors,along with fiscal and inflation concerns,cut into investment activity,it said.

Indias economic growth rate in 2011-12 slipped to a nine-year low of 6.5 per cent. The economy had expanded by 8.4 per cent in the preceding two years. With PTI