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Impact of Global Financial Crisis on Indian Economy

	Impact Of Global Financial Crisis On Indian Economy by P. Arunachalam
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Enough and more than enough have been discussed for the past three years about the global recession 2008. Still we feel there is a gap to be discussed about the issue. As the sub-prime crisis assumes a worldwide scale, many dimensions related to human resources gain centre stage. The sub-prime crisis was initially considered to be a limited problem, but by mid-2008, it was clear that the crisis was deeply embedded in the industrial countries. The showpieces of the industrial countries financial system suddenly collapsed. The end of the crisis is nowhere in sight as institution after institution is going under. The contagion has spread very quickly to seemingly well-run large corporates. The initial assessment was that this was the usual recession and that these countries would come out of this in a matter of months. The situation in the industrial countries is probably the worst crisis in 100 years. In generational terms, the deep recession of 1981-82 is labelled as fathers` recession, the Great Depression of 1929 as grandfathers` depression and the Panic of 1873 as the great-grandfathers` slump. The horror is Paul Krugman`s assessment that the current slump closely reflects the Panic of 1873. The global slowdown has inevitably affected India and a number of export industries have come to a grinding halt. Official forecasts of GDP growth are 7 per cent in 2008-09 and 8-9 per cent in 2009-10. This book deals with the empirical research studies related to the impact of global meltdown on India economy.
ISBN 9788189630171

Pages : 649