Global crisis and its impact on the Indian economy
Summary :
Table of Contents
- Abstract
- Introduction
- Effect of financial crisis on various sectors
- Banking sector
- Stock and currency markets
- Steel, fertilizer, realty, auto and export-import industry
- References
Abstract
After a long spell of growth, the indian economy is experiencing a downturn. Industrial growth is faltering, inflation remains at high levees, the current account deficit is widening, foreign exchange reserves are depleting and the rupee is depreciating, these features can related to the current international crisis. The most immediate effect of that crisis on India has been on outflow of foreign institutional investment from the equity market.
India's G.D.P. Growth estimate for the current fiscal (2008-2009) has been down graded from 8 percent to 7.4 percent and for the next Financial year (2008-2009) from 8.5 percent to 7 percent. When the Financial crisis erupted in a comprehensive manner on wall street, there was some premature triumphalism among indian Policymakers and media persons.
India's G.D.P. Growth estimate for the current fiscal (2008-2009) has been down graded from 8 percent to 7.4 percent and for the next Financial year (2008-2009) from 8.5 percent to 7 percent. When the Financial crisis erupted in a comprehensive manner on wall street, there was some premature triumphalism among indian Policymakers and media persons.
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