Revival lessons from 2008 stimulus

22 Jan 2020

When the global financial crisis occurred in September 2008, India's growth rate over the previous years had been averaging 8.9 per cent. There was initially a sense of complacency that India would remain untouched as it had been cautious and had not deregulated its financial system. There was no exposure to the high-risk financial products that caused the crisis in the US.

Economic development
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