File Name: global financial crisis and its impact on india file.zip
So, All of authors and contributors must check their papers before submission to making assurance of following our anti-plagiarism policies. The Indian economy looked to be relatively insulated from the global financial crisis that started in August when the sub-prime mortgage crisis first surfaced in the United States US. In fact, the Reserve Bank of India RBI was raising interest rates until August with the explicit objective of cooling the economy and bringing down the gross domestic product GDP growth rate, which visibly had moved above the rate of potential output growth and was contributing to the buildup of inflationary pressures in the economy. This paper attempts an analysis of the origin and causes of global financial crisis and the impact of the crisis on the Indian economy. Why Us? Global financial crisis and its impact on Indian Economy Author:. Subject Area:.
Rania A. Discussion Papers. Pomerleano, Michael, Michael Pomerleano, Full references including those not matched with items on IDEAS Most related items These are the items that most often cite the same works as this one and are cited by the same works as this one. Richiardi,
Bajpai, Nirupam. India could not insulate itself from the adverse developments in the international financial markets, despite having a banking and financial system that had little to do with investments in structured financial instruments carved out of subprime mortgages, whose failure had set off the chain of events culminating in a global crisis. Economic growth decelerated in to 6. This represented a decline of 2. To counter the negative fallout of the global slowdown on the Indian economy, the federal Government responded by providing three focused fiscal stimulus packages in the form of tax relief to boost demand and increased expenditure on public projects to create employment and public assets. India's central Bank — the Reserve Bank of India RBI took a number of monetary easing and liquidity enhancing measures to facilitate flow of funds from the financial system to meet the needs of productive sectors.
The contagion in the banking sector caused a near shutdown of the credit markets and the United States economy went into a severe recession.
The global financial crisis surfaced around August Its origin lay in structured investment instruments Collateralized Debt Obligations, synthetic CDOs created out of sub-prime mortgage lending in the United States. The securitization process however was not backed by due diligence and led to large-scale default.
Full references including those not matched with items on IDEAS Most related items These are the items that most often cite the same works as this one and are cited by the same works as this one. Nath, Hiranya K. Thomas, P Mini, Ashish Malik,
Theme: The unfolding global financial crisis comes in various forms and presents many challenges as well as opportunities, even though it is too early to predict any specific outcome. However, the fact remains that the international system and the concept of power as such is undergoing a shift. This has serious implications for the developing world. The financial crisis presents India in particular with several geopolitical implications. The financial crisis experienced by the international system today will have serious geopolitical implications.
Developing countries were hit hard by the financial and economic crisis, although the impact was somewhat delayed.