The Indian economic scenario: Growing challenges in a turbulent environment
By: Balaji, C.D.
Contributor(s): Kumar, S. Praveen.
Material type:
ArticlePublisher: 2013Description: p.62-75.Subject(s): Economic growth - India | Economic growth
In:
World AffairsSummary: The pace of India's economic growth gained momentum after the ushering in of liberalisation, privatisation and globalisation and most economic and social indicators improved. This encouraging scenario however was jolted by the global financial and economic crisis, which had its genesis in the US and then spread around the world in 2007-08. There has been a significant decline in agricultural, industrial and service sector growth rates. In the banking sector, NPAs have risen to alarming levels and corporate debt restructuring cases have increased. A fall in exports together with an increase in imports has widened the trade deficit. The rupee has fallen, tax revenues have not grown according to estimates and revenues from disinvestment and spectrum auctions have been below targets. While FIIs have flooded the market, there are inordinate delays in basic reforms. - Reproduced.
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Articles
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Indian Institute of Public Administration | Volume no: 17, Issue no: 3 | Available | AR102071 |
The pace of India's economic growth gained momentum after the ushering in of liberalisation, privatisation and globalisation and most economic and social indicators improved. This encouraging scenario however was jolted by the global financial and economic crisis, which had its genesis in the US and then spread around the world in 2007-08. There has been a significant decline in agricultural, industrial and service sector growth rates. In the banking sector, NPAs have risen to alarming levels and corporate debt restructuring cases have increased. A fall in exports together with an increase in imports has widened the trade deficit. The rupee has fallen, tax revenues have not grown according to estimates and revenues from disinvestment and spectrum auctions have been below targets. While FIIs have flooded the market, there are inordinate delays in basic reforms. - Reproduced.
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