Mr. Chanda Kochhar, the CEO and Managing Director of ICICI Bank has differed from the industry counterparts in saying that the country's growth prospects are still good and pointed out that people are concerned about the negative aspects while they have taken positive one's for granted.

He pointed out that that the global situation was not the "big reason" for the current situation and "a lot of it is in our own hands. But we all tend to talk more about challenges and take the positives for granted."

Industry leaders in the country have expressed serious concerns over the economic situation in the country. Infosys' chairman N R Narayana Murthy and Wipro chairman Azim Premji have accused the government of mismanagement in the economy. Som Mittal, president of the National Association of Software and Services Companies (Nasscom) has said that the industry agrees with the concerns expressed by the two leaders.

India's GDP growth has fallen to its lowest level in 9 years to 5.3 per cent for the fourth quarter of the financial year till March 2012. The GDP growth for the same quarter of 2010-11 was 9.2 per cent, showed the latest data announced by the government.