explain two Positive features of Indian economy
Answers
Answer:
1.one of the fastest growing economies of the world.
2.all round development of people and resources.
The past year has been a severe test for India’s economy. The global economic crisis that swept through the world in the wake of the financial earthquakes, which had its epicenters on Wall Street and the US mortgage system, left no country unscathed.
The past year has been a severe test for India’s economy. The global economic crisis that swept through the world in the wake of the financial earthquakes, which had its epicenters on Wall Street and the US mortgage system, left no country unscathed.The ferocity of the economic downturn was reflected across the world, by way of a collapse of stock markets, the liquidation of some of the most respected global investment banks, a virtual freeze in global liquidity and a sharp contraction in global trade and economic activity, almost across the board.
The past year has been a severe test for India’s economy. The global economic crisis that swept through the world in the wake of the financial earthquakes, which had its epicenters on Wall Street and the US mortgage system, left no country unscathed.The ferocity of the economic downturn was reflected across the world, by way of a collapse of stock markets, the liquidation of some of the most respected global investment banks, a virtual freeze in global liquidity and a sharp contraction in global trade and economic activity, almost across the board.The worst was averted only because of massive, unprecedented and coordinated injections of liquidity by central banks, matched with several rounds of fiscal stimulus packages. The after shocks of the crisis still linger. A record number of small US banks have closed down this year; all the developed economies are running sizeable budget deficits; and the recent financial ‘desert storm’ in Dubai attest to the scale of the underlying problems.