Key Challenges

Biswa Swarup Misra
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Biswa Swarup Misra: Xavier Institute of Management

Chapter 2 in Revisiting Regional Growth Dynamics in India in the Post Economic Reforms Period, 2013, pp 6-26 from Palgrave Macmillan

Abstract: Abstract As alluded to in the Introduction, this chapter has three broad themes. India’s GDP growth dropped to 6.9 per cent in 2008–9 because of the negative externalities arising out of the global financial crisis. India made a strong comeback in the subsequent two fiscal years, viz, 2009–10 and 2010–11, when growth could be maintained at around 8.5 per cent, but growth again dipped to 6.5 per cent in 2011–12. The policy responses to tackling the after-effects of the global financial crisis were quite successful at protecting growth in the first two years but have not been able to protect growth subsequently. As the drop in growth was quite dramatic in 2011–12 and 2012–13, the macroeconomic management since the onset of the global financial crisis and the key macroeconomic challenges to reviving growth in the medium term is the first theme.

Keywords: Monetary Policy; Central Bank; Global Financial Crisis; Financial Inclusion; Fiscal Deficit (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-30368-4_2

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DOI: 10.1057/9781137303684_2

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