Overview

India's integration into the world economy since the initiation of economic reforms in 1991 has been remarkably rapid. Hence, Indian economy cannot remain insulated from global economic trends. Beginning mid-September 2008, the Indian economy came under pressure owing to the knock-on effects of the global financial crisis which later on turned into economic recession in most developed countries of the world. The contagion was initially felt in the equity markets due to the reversal of foreign institutional portfolio flows. With sharp tightening of global liquidity, Indian banks and corporates saw their overseas financing drying up. The response of the Government of India, Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI) was swift and adequate. Resultantly, India could tide over the adverse situation successfully. This volume contains 13 research articles -- authored by scholars on economic policy matters -- which provide deep insights into the origin, causes and impacts of global economic recession. Remedial measures adopted by governments world-wide including India are also discussed.

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Dr. Meenu Agrawal is Principal, Ginni Devi Modi Girls (Post-graduate) College, Modinagar and also Associate Professor and Head, Department of Economics in the same college. She obtained her Ph.D. degree from Ch. Charan Singh University, Meerut in 1991. She specialises in the areas of consumer behaviour, rural development and women empowerment. With more than 32 years of teaching experience and 24 years of research experience, she has authored 21 books and co-authored 6 books in areas of her specialisation. Dr. Agrawal has published 70 research papers in journals and magazines of repute. She has also contributed and presented papers at national and international seminars. She has also organized 8 national seminars, sponsored by the University Grants Commission (UGC), New Delhi and the Indian Council of Social Science Research (ICSSR), New Delhi.

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