India faced a severe macroeconomic and balance of payments crisis in the late 1980s and early 1990s. The consolidated gross fiscal deficit of central and state governments in 1990-1991 was as high as 9.4% of GDP, and the current account deficit was 3.1% of GDP. India has since liberalized its economy and become more integrated globally. However, this also made it more vulnerable to external shocks like the global financial crisis that began in 2007. The crisis impacted India through financial markets, trade flows, and exchange rates, though the banking sector remained largely unaffected due to prudent regulations.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
1) The document analyzes the impact of the 2008 global financial crisis on the Indian banking sector. It discusses three main transmission channels through which the crisis impacted India: the finance channel, real economy channel, and confidence channel.
2) In response, the Reserve Bank of India took monetary policy actions like cutting reserve requirements to increase liquidity. It also liberalized rules on foreign capital inflows.
3) The document finds that overall, the Indian banking sector remained resilient during the crisis. Public and private sector banks saw small increases in profits. Non-performing assets declined for public banks but rose slightly for private and foreign banks. Private banks improved several performance metrics like interest income and returns on assets. Thus,
The document discusses economic crises. It states that while irresponsible borrowing contributed to the 2008 crisis, the underlying issue was an economic system based on perpetual growth. An economic crisis occurs when a system functions poorly and needs immediate action. During a crisis, financial institutions lose value quickly and production fails to meet demand. While causes are often difficult to determine, conditions like balance of payments problems, low foreign exchange reserves and currency devaluation can create a setting for a crisis. India experienced crises in 1991 due to low reserves that could only finance three weeks of imports, and the country implemented reforms that have since yielded good results.
The document is a financial analysis of Hindalco Industries for 2006-07 to 2007-08. It includes an acknowledgement, synopsis, and sections on the global and country environment/outlook. The synopsis indicates the analysis contains EIC analysis, Porter's Five Forces industry analysis, and financial statement analysis including various ratios and Du-Pont analysis to examine trends. The global environment section describes the large global financial crisis and economic downturn, while the country outlook section discusses how past crises have impacted India's exports and real economy.
The document discusses the impact of the 2008 global financial crisis on India. It had an immediate direct impact through exposure to subprime lending, though this was limited. The bigger indirect impact was through a liquidity squeeze, FII outflows, a credit crunch, and collapsing exports, which significantly slowed economic growth. In the long run, rising instability and tensions from resource conflicts and growing disparities could further impact India geopolitically. The crisis also severely damaged China's export-driven economy and raised risks of instability.
The document discusses the impact of the 2008 global financial crisis on the Indian economy. It notes that while India had little direct exposure to subprime assets, it was still impacted due to increasing globalization and financial integration. Several sectors of the Indian economy experienced slowdowns, including declines in exports, manufacturing, and job losses. The government implemented fiscal stimulus measures that helped arrest the fall in GDP growth, but growth still declined from 9% pre-crisis to 6.7% in 2008-09. Foreign investment and capital flows into India also decreased sharply during this period.
International Journal of Humanities and Social Science Invention (IJHSSI)inventionjournals
1) The document analyzes the impact of the 2008 global financial crisis on the Indian banking sector. It discusses three main transmission channels through which the crisis impacted India: the finance channel, real economy channel, and confidence channel.
2) In response, the Reserve Bank of India took monetary policy actions like cutting reserve requirements to increase liquidity. It also liberalized rules on foreign capital inflows.
3) The document finds that overall, the Indian banking sector remained resilient during the crisis. Public and private sector banks saw small increases in profits. Non-performing assets declined for public banks but rose slightly for private and foreign banks. Private banks improved several performance metrics like interest income and returns on assets. Thus,
The document discusses economic crises. It states that while irresponsible borrowing contributed to the 2008 crisis, the underlying issue was an economic system based on perpetual growth. An economic crisis occurs when a system functions poorly and needs immediate action. During a crisis, financial institutions lose value quickly and production fails to meet demand. While causes are often difficult to determine, conditions like balance of payments problems, low foreign exchange reserves and currency devaluation can create a setting for a crisis. India experienced crises in 1991 due to low reserves that could only finance three weeks of imports, and the country implemented reforms that have since yielded good results.
The document is a financial analysis of Hindalco Industries for 2006-07 to 2007-08. It includes an acknowledgement, synopsis, and sections on the global and country environment/outlook. The synopsis indicates the analysis contains EIC analysis, Porter's Five Forces industry analysis, and financial statement analysis including various ratios and Du-Pont analysis to examine trends. The global environment section describes the large global financial crisis and economic downturn, while the country outlook section discusses how past crises have impacted India's exports and real economy.
The document discusses the impact of the 2008 global financial crisis on India. It had an immediate direct impact through exposure to subprime lending, though this was limited. The bigger indirect impact was through a liquidity squeeze, FII outflows, a credit crunch, and collapsing exports, which significantly slowed economic growth. In the long run, rising instability and tensions from resource conflicts and growing disparities could further impact India geopolitically. The crisis also severely damaged China's export-driven economy and raised risks of instability.
The document discusses the impact of the 2008 global financial crisis on the Indian economy. It notes that while India had little direct exposure to subprime assets, it was still impacted due to increasing globalization and financial integration. Several sectors of the Indian economy experienced slowdowns, including declines in exports, manufacturing, and job losses. The government implemented fiscal stimulus measures that helped arrest the fall in GDP growth, but growth still declined from 9% pre-crisis to 6.7% in 2008-09. Foreign investment and capital flows into India also decreased sharply during this period.
The document discusses the global economic meltdown that occurred in 2008. It provides definitions of key terms like financial crisis, economic crisis, and economic meltdown. It then summarizes the various crises that occurred from the 1980s to 2008. The causes of the 2008 meltdown included the housing boom and bust, risky lending practices, and failure of major financial institutions. The impacts were felt globally through slowed economic activity and investment. Central banks intervened to rescue economies. India's economy was impacted but it was able to grow at over 6% through government stimulus packages. The country survived relatively unscathed due to its domestic nature and policy responses.
This document provides an overview and analysis of the Indian economy in 2011-12. It summarizes the key findings of the annual Economic Survey presented to Parliament, including a slowdown in GDP growth to 6.9% due to weak industrial growth, high inflation that has begun to decline, and a likely fiscal deficit slippage. It also discusses developments in agriculture, industry, fiscal policy, prices, trade and the global economic challenges faced by India.
1) The document discusses India's current macroeconomic challenges from the perspective of the Reserve Bank of India.
2) It outlines three main challenges: managing growth-inflation dynamics, mitigating external sector vulnerabilities, and managing the political economy of fiscal consolidation.
3) On growth-inflation dynamics, private investment and consumption have declined sharply, slowing growth while inflation has remained elevated due to food and commodity prices and wage pressures. The Reserve Bank has raised interest rates aggressively to curb inflation.
This document discusses India's budget deficits, public debt, and fiscal policy. It begins with an introduction on global fiscal problems like growing budget deficits in developed countries. It then discusses debates around measuring budget deficits, trends in India's growing public debt, and the importance of foreign capital flows for India's external and internal balances. The document outlines India's fiscal history and debt dynamics, noting increasing deficits, declining capital expenditures, and rising government borrowing. It concludes that India's deficit and debt dynamics pose sustainability risks if capital formation continues decreasing and debt variability remains high.
The 1991 Economic Reform: The nation's first step to prosperityAvipshaSengupta1
The 1991 economic reforms in India were a response to a severe economic crisis caused by fiscal imbalances and a balance of payments deficit. The reforms liberalized trade and the financial sector. Trade restrictions were reduced and foreign direct investment increased, allowing exports to rise. In the financial sector, interest rates were market-oriented, reserve requirements were cut, and banks were given more autonomy. The reforms helped pull India out of the crisis and put it on a path toward greater economic prosperity and integration into the global economy.
- The document analyzes factors influencing the movement of the Indian rupee against the US dollar, concluding the rupee will likely fall against the dollar in the next quarter. Key concerns include India's slowing GDP growth, high inflation, rising budget deficit, and worsening current account balance reminiscent of 1991. Technical indicators also point to the rupee weakening against the dollar.
India faced a severe balance of payments crisis in 1991, with foreign exchange reserves only enough to finance two weeks of imports. Post-1991, India adopted economic reforms focused on liberalization, privatization, and globalization to stabilize its economy. These reforms helped improve key indicators like trade balance, foreign investment, and remittances in subsequent decades. However, a trade deficit persists as imports have grown faster than exports.
Indian Economy: The Challenge Ahead Since India gainedalianwarrr55
Following India's economic victories, the country is confronted with a wide range of chances and challenges that represent Sarvesh Kaushal's vision fulfilled. The spirit of Kaushal's vision blends with the economic history of the country as the Indian economy continues its voyage of change, offering a powerful story of expansion, resiliency, and adaptability.
U.S recession and its impact on indian economyramanraman
The document discusses the impact of the 2008 recession in the United States on the Indian economy. It notes that the U.S. recession was caused by the subprime mortgage crisis and rising unemployment. This led to a decline in U.S. economic growth and GDP. The recession negatively impacted key sectors in India like exports, IT, real estate, banking, and manufacturing due to declining demand from the U.S. and other countries. The Indian government and central bank took steps to cut interest rates and increase liquidity to mitigate the effects. Overall, while India was still growing, the recession had significant consequences on the country's economic performance and job losses.
Indonesia is an archipelago nation in Southeast Asia that gained independence after World War II. It has the world's fourth largest population and has pursued moderate international relations, being a founding member of ASEAN and the Non-Aligned Movement. Indonesia has the largest economy in Southeast Asia and is a member of the G-20. It exports mainly to Japan, the US, and China and imports mainly from Japan, China, and Singapore. The country has faced economic crises and high unemployment despite growth, and corruption has also interfered with recovery.
A Study on Mumbai Circle_Research Project PaperJayant Rao
This document provides a macroeconomic overview of the global and Indian economies in 2011-2012 and expectations for 2012-2013. It analyzes key economic indicators and growth rates of major countries and regions including the G7, Eurozone, BRICS, US, and India. The overall sentiment in the world was subdued, with many economies struggling with high unemployment, fiscal consolidation pressures, and weak demand. India showed growth of 6.5% but high inflation remained a challenge. The outlook for the global and Indian economies in 2012-2013 remained uncertain.
A close look into the financial crisis and financial market volatilityAlexander Decker
This document discusses the causes and history of the global financial crisis that began in 2007. It provides definitions of financial crisis and reviews related literature on previous crises and the current one. The causes of the 2007 crisis included easy credit conditions, the US subprime mortgage crisis, global imbalances, inadequate exchange rate flexibility, loose monetary policy, complex derivatives, regulatory weaknesses, and Basel I capital requirements. The crisis originated from the US subprime sector in 2007 and spread globally after the 2008 collapse of Lehman Brothers. It compares the current crisis to the Great Depression but finds it has different characteristics and wider impact across economic factors.
India's current account deficit widened significantly from 0% of GDP in 2007 to 4.92% of GDP in 2012, raising concerns among investors. The deficit was driven largely by a fall in domestic savings from 33.4% of GDP in 2005 to 30.4% in 2013, while investment levels remained similar. Corporate savings declined due to higher interest rates, while household financial savings fell as well due to negative real deposit rates. Large fiscal deficits also crowded out private investment. Increasing fiscal and current account deficits from 2008 to 2013 indicated a "twin deficits" problem. A growing current account deficit and macroeconomic vulnerabilities weakened India's growth outlook.
To focus on the study of examine “U.S. financial crisis and its impact on Ind...Rahul Dabhi
The document discusses different currencies used globally and factors that influence currency exchange rates such as interest rates and economic opportunities in a country. It defines a financial crisis as a rapid fall in the value of one or more currencies, more likely in emerging markets with high foreign currency borrowing. A financial crisis involves investors withdrawing money from savings accounts, an economic downturn, and stock market crashes. Government responses to speculative attacks on a currency include devaluing the exchange rate, intervening in foreign exchange markets, and raising interest rates. The chapter reviews literature on the impact of the global financial crisis on India's GDP and the relative resilience of the Indian economy.
This document discusses 10 major challenges confronting the Reserve Bank of India and opportunities for commercial banks to address some of these challenges. The challenges include propelling domestic growth, controlling persistent inflation, mitigating external sector vulnerabilities, and improving various aspects of the financial system. It outlines how inflation impacts household savings and investment. It also discusses opportunities for banks in sectors like MSME, agriculture, housing, and infrastructure to help boost growth. Banks can play a role in curbing food inflation through financing supply chains and providing short-term credit to vendors. Addressing these challenges will require balancing monetary policy objectives of growth and inflation.
Indias great slowdown cause and way forward by arvind subramanian and josh fe...DVSResearchFoundatio
The Indian economy is facing a Severe Slowdown with the GDP growth falling to 4.5% in the 2nd Quarter of FY19-20. Mr. Aravind Subramanian, former Chief Economic Adviser to the Government of India has termed it as The Great Slowdown. A recent Faculty Working Paper (WP) for the Center for International Development (CID) at Harvard University by Mr. Arvind Subramanian and Mr. Josh Felman provides an Analysis of the Slowdown. In this webinar, we shall understand the thesis provided on Reasons and Remedies for the Current Slowdown.
Pincus, J.; Ramli, R. (1998). Indonesia from showcase to basket case. Cambrid...hamdinur2
This document summarizes an article about Indonesia's economic collapse following the 1997 Asian financial crisis. It describes how:
1) Indonesia went from being one of Asia's greatest economic success stories to experiencing one of the worst economic crises, with GDP expected to contract 10-15% and poverty rising to 40% of the population.
2) While external factors triggered the crisis, underlying weaknesses in Indonesia's financial system and a series of poor policy responses by its government greatly exacerbated the crisis.
3) The roots of the collapse can be traced to Indonesia's attempt in the 1980s to liberalize its economy through financial reforms, despite having a weak state and patronage-dominated political system that prevented effective
This is the presentation which I made for a Paper presentation competition. and i won the 1st prize.. wat better way to start my life on slideshare...
The topic was "India in Recession?". the question mark in the end signified that we could take our stand whether India was in a recession (that's in early 2009)... I took my stand, presented hypotheses, and proved it..
China has the second largest economy globally and is projected to surpass the US by 2020. It has experienced strong and consistent GDP growth for decades, averaging around 7-9% annually, though growth has slowed recently. China has a one-party communist government and is transitioning its economy from manufacturing and exports to more domestic consumption and innovation. It faces challenges from a slowing housing market and global economic uncertainties.
The trilemma as a framework for understanding China and India’s recent moneta...Hiram Ruiz
This document summarizes and analyzes recent monetary policy choices by China and India through the framework of the "trilemma" of international finance. It discusses China and India's use of capital controls to maintain exchange rate stability and monetary sovereignty while restricting capital flows. The document analyzes the development of each country's domestic financial markets and the role of government ownership in banking. It examines how China and India have approached exchange rate policy and positioned themselves within the trilemma framework over time based on quantitative data and historical context.
The document discusses the global economic meltdown that occurred in 2008. It provides definitions of key terms like financial crisis, economic crisis, and economic meltdown. It then summarizes the various crises that occurred from the 1980s to 2008. The causes of the 2008 meltdown included the housing boom and bust, risky lending practices, and failure of major financial institutions. The impacts were felt globally through slowed economic activity and investment. Central banks intervened to rescue economies. India's economy was impacted but it was able to grow at over 6% through government stimulus packages. The country survived relatively unscathed due to its domestic nature and policy responses.
This document provides an overview and analysis of the Indian economy in 2011-12. It summarizes the key findings of the annual Economic Survey presented to Parliament, including a slowdown in GDP growth to 6.9% due to weak industrial growth, high inflation that has begun to decline, and a likely fiscal deficit slippage. It also discusses developments in agriculture, industry, fiscal policy, prices, trade and the global economic challenges faced by India.
1) The document discusses India's current macroeconomic challenges from the perspective of the Reserve Bank of India.
2) It outlines three main challenges: managing growth-inflation dynamics, mitigating external sector vulnerabilities, and managing the political economy of fiscal consolidation.
3) On growth-inflation dynamics, private investment and consumption have declined sharply, slowing growth while inflation has remained elevated due to food and commodity prices and wage pressures. The Reserve Bank has raised interest rates aggressively to curb inflation.
This document discusses India's budget deficits, public debt, and fiscal policy. It begins with an introduction on global fiscal problems like growing budget deficits in developed countries. It then discusses debates around measuring budget deficits, trends in India's growing public debt, and the importance of foreign capital flows for India's external and internal balances. The document outlines India's fiscal history and debt dynamics, noting increasing deficits, declining capital expenditures, and rising government borrowing. It concludes that India's deficit and debt dynamics pose sustainability risks if capital formation continues decreasing and debt variability remains high.
The 1991 Economic Reform: The nation's first step to prosperityAvipshaSengupta1
The 1991 economic reforms in India were a response to a severe economic crisis caused by fiscal imbalances and a balance of payments deficit. The reforms liberalized trade and the financial sector. Trade restrictions were reduced and foreign direct investment increased, allowing exports to rise. In the financial sector, interest rates were market-oriented, reserve requirements were cut, and banks were given more autonomy. The reforms helped pull India out of the crisis and put it on a path toward greater economic prosperity and integration into the global economy.
- The document analyzes factors influencing the movement of the Indian rupee against the US dollar, concluding the rupee will likely fall against the dollar in the next quarter. Key concerns include India's slowing GDP growth, high inflation, rising budget deficit, and worsening current account balance reminiscent of 1991. Technical indicators also point to the rupee weakening against the dollar.
India faced a severe balance of payments crisis in 1991, with foreign exchange reserves only enough to finance two weeks of imports. Post-1991, India adopted economic reforms focused on liberalization, privatization, and globalization to stabilize its economy. These reforms helped improve key indicators like trade balance, foreign investment, and remittances in subsequent decades. However, a trade deficit persists as imports have grown faster than exports.
Indian Economy: The Challenge Ahead Since India gainedalianwarrr55
Following India's economic victories, the country is confronted with a wide range of chances and challenges that represent Sarvesh Kaushal's vision fulfilled. The spirit of Kaushal's vision blends with the economic history of the country as the Indian economy continues its voyage of change, offering a powerful story of expansion, resiliency, and adaptability.
U.S recession and its impact on indian economyramanraman
The document discusses the impact of the 2008 recession in the United States on the Indian economy. It notes that the U.S. recession was caused by the subprime mortgage crisis and rising unemployment. This led to a decline in U.S. economic growth and GDP. The recession negatively impacted key sectors in India like exports, IT, real estate, banking, and manufacturing due to declining demand from the U.S. and other countries. The Indian government and central bank took steps to cut interest rates and increase liquidity to mitigate the effects. Overall, while India was still growing, the recession had significant consequences on the country's economic performance and job losses.
Indonesia is an archipelago nation in Southeast Asia that gained independence after World War II. It has the world's fourth largest population and has pursued moderate international relations, being a founding member of ASEAN and the Non-Aligned Movement. Indonesia has the largest economy in Southeast Asia and is a member of the G-20. It exports mainly to Japan, the US, and China and imports mainly from Japan, China, and Singapore. The country has faced economic crises and high unemployment despite growth, and corruption has also interfered with recovery.
A Study on Mumbai Circle_Research Project PaperJayant Rao
This document provides a macroeconomic overview of the global and Indian economies in 2011-2012 and expectations for 2012-2013. It analyzes key economic indicators and growth rates of major countries and regions including the G7, Eurozone, BRICS, US, and India. The overall sentiment in the world was subdued, with many economies struggling with high unemployment, fiscal consolidation pressures, and weak demand. India showed growth of 6.5% but high inflation remained a challenge. The outlook for the global and Indian economies in 2012-2013 remained uncertain.
A close look into the financial crisis and financial market volatilityAlexander Decker
This document discusses the causes and history of the global financial crisis that began in 2007. It provides definitions of financial crisis and reviews related literature on previous crises and the current one. The causes of the 2007 crisis included easy credit conditions, the US subprime mortgage crisis, global imbalances, inadequate exchange rate flexibility, loose monetary policy, complex derivatives, regulatory weaknesses, and Basel I capital requirements. The crisis originated from the US subprime sector in 2007 and spread globally after the 2008 collapse of Lehman Brothers. It compares the current crisis to the Great Depression but finds it has different characteristics and wider impact across economic factors.
India's current account deficit widened significantly from 0% of GDP in 2007 to 4.92% of GDP in 2012, raising concerns among investors. The deficit was driven largely by a fall in domestic savings from 33.4% of GDP in 2005 to 30.4% in 2013, while investment levels remained similar. Corporate savings declined due to higher interest rates, while household financial savings fell as well due to negative real deposit rates. Large fiscal deficits also crowded out private investment. Increasing fiscal and current account deficits from 2008 to 2013 indicated a "twin deficits" problem. A growing current account deficit and macroeconomic vulnerabilities weakened India's growth outlook.
To focus on the study of examine “U.S. financial crisis and its impact on Ind...Rahul Dabhi
The document discusses different currencies used globally and factors that influence currency exchange rates such as interest rates and economic opportunities in a country. It defines a financial crisis as a rapid fall in the value of one or more currencies, more likely in emerging markets with high foreign currency borrowing. A financial crisis involves investors withdrawing money from savings accounts, an economic downturn, and stock market crashes. Government responses to speculative attacks on a currency include devaluing the exchange rate, intervening in foreign exchange markets, and raising interest rates. The chapter reviews literature on the impact of the global financial crisis on India's GDP and the relative resilience of the Indian economy.
This document discusses 10 major challenges confronting the Reserve Bank of India and opportunities for commercial banks to address some of these challenges. The challenges include propelling domestic growth, controlling persistent inflation, mitigating external sector vulnerabilities, and improving various aspects of the financial system. It outlines how inflation impacts household savings and investment. It also discusses opportunities for banks in sectors like MSME, agriculture, housing, and infrastructure to help boost growth. Banks can play a role in curbing food inflation through financing supply chains and providing short-term credit to vendors. Addressing these challenges will require balancing monetary policy objectives of growth and inflation.
Indias great slowdown cause and way forward by arvind subramanian and josh fe...DVSResearchFoundatio
The Indian economy is facing a Severe Slowdown with the GDP growth falling to 4.5% in the 2nd Quarter of FY19-20. Mr. Aravind Subramanian, former Chief Economic Adviser to the Government of India has termed it as The Great Slowdown. A recent Faculty Working Paper (WP) for the Center for International Development (CID) at Harvard University by Mr. Arvind Subramanian and Mr. Josh Felman provides an Analysis of the Slowdown. In this webinar, we shall understand the thesis provided on Reasons and Remedies for the Current Slowdown.
Pincus, J.; Ramli, R. (1998). Indonesia from showcase to basket case. Cambrid...hamdinur2
This document summarizes an article about Indonesia's economic collapse following the 1997 Asian financial crisis. It describes how:
1) Indonesia went from being one of Asia's greatest economic success stories to experiencing one of the worst economic crises, with GDP expected to contract 10-15% and poverty rising to 40% of the population.
2) While external factors triggered the crisis, underlying weaknesses in Indonesia's financial system and a series of poor policy responses by its government greatly exacerbated the crisis.
3) The roots of the collapse can be traced to Indonesia's attempt in the 1980s to liberalize its economy through financial reforms, despite having a weak state and patronage-dominated political system that prevented effective
This is the presentation which I made for a Paper presentation competition. and i won the 1st prize.. wat better way to start my life on slideshare...
The topic was "India in Recession?". the question mark in the end signified that we could take our stand whether India was in a recession (that's in early 2009)... I took my stand, presented hypotheses, and proved it..
China has the second largest economy globally and is projected to surpass the US by 2020. It has experienced strong and consistent GDP growth for decades, averaging around 7-9% annually, though growth has slowed recently. China has a one-party communist government and is transitioning its economy from manufacturing and exports to more domestic consumption and innovation. It faces challenges from a slowing housing market and global economic uncertainties.
The trilemma as a framework for understanding China and India’s recent moneta...Hiram Ruiz
This document summarizes and analyzes recent monetary policy choices by China and India through the framework of the "trilemma" of international finance. It discusses China and India's use of capital controls to maintain exchange rate stability and monetary sovereignty while restricting capital flows. The document analyzes the development of each country's domestic financial markets and the role of government ownership in banking. It examines how China and India have approached exchange rate policy and positioned themselves within the trilemma framework over time based on quantitative data and historical context.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
University of North Carolina at Charlotte degree offer diploma Transcripttscdzuip
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The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Unlock Your Potential with NCVT MIS.pptxcosmo-soil
The NCVT MIS Certificate, issued by the National Council for Vocational Training (NCVT), is a crucial credential for skill development in India. Recognized nationwide, it verifies vocational training across diverse trades, enhancing employment prospects, standardizing training quality, and promoting self-employment. This certification is integral to India's growing labor force, fostering skill development and economic growth.
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
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Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
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3. India entered the last decade of the twentieth century with a severe macro- economic and balance of
payments crisis. The consolidated gross fiscal deficit of its central and state governments in fiscal year
1990–91 was as high as 9.4 percent of GDP, and the current account deficit was 3.1 percent of GDP.
With a GDP of $3.1 trillion, India is the world's sixth-largest economy. The country has one of the highest
GDP growth rates in the world. India's GDP will likely grow by 8-8.5% in FY22, according to the 2021-22
Economic Survey.
4. INTRODUCTION
• The Indian economy looked to be relatively insulated from the global financial crisis that started in August 2007 when the sub-
prime mortgage crisis first surfaced in the United States (US). In fact, the Reserve Bank of India (RBI) was raising interest rates until
August 2008 with the explicit objective of cooling the economy and bringing down the gross domestic product (GDP) growth rate,
which visibly had moved above the rate of potential output growth and was contributing to the build up of inflationary pressures
in the economy.1 But when the collapse of Lehman Brothers on 23 September 2008 morphed the US financial meltdown into a
global economic downturn, the impact on the Indian economy was almost immediate. External credit flows suddenly dried up and
the overnight money market interest rate spiked to above 20% and remained high for the next month. It is perhaps judicious to
assume that the impacts of the global economic downturn on the Indian economy are still unfolding. Against this backdrop, this
paper attempts an analysis of the impact of the global financial crisis on the Indian economy and suggests some policy measures to
put the economy back on track. Broadly, the paper has been divided into six sections. After summarizing the severity of the current
crisis in Section 2, Section 3 deals with the impact of the crisis on the Indian economy. Section 4 discusses the monetary and fiscal
policy responses to the crisis, while Section 5 provides a critical assessment of the policy responses. In the final section we
recommend some policy measures that are needed to reverse the downturn.
5. SEVERITY OF THE CURRENT FINANCIAL CRISIS
• Banking and financial crises have been a regular feature of modern economic history. According to one estimate,
there have been 86 banking crises since the Great Depression that have spread beyond national borders.
According to a World Bank study in 2001,2 the world has witnessed as many as 112 systemic banking crises from
the late 1970s to early 2001. Most crises, including the current one, share some common features. Some general
examples include a search for increasingly higher yields in financial markets, a lax regulatory regime, a mismatch in
appetite for risk and the capacity for bearing it, and the consequent build up of asset bubbles, usually in the real
estate sector, which for various reasons is overlooked by the regulators. The recent financial sector crisis shares
most, if not all, of these features. However, what makes the current crisis exceptional is that it emerged at the very
epicentre of global capitalism, the US, and its contagion spread very quickly to the entire global economy, unlike
previous crises that were usually confined to a region or a small number of countries. Economies like India and the
People’s Republic of China (PRC), where the financial sectors were not as integrated with the global financial
system, were spared the first round adverse effects of the current crisis and their banks were left mostly
unaffected. However, these giant economies and their Asian neighbors could not escape the second round effects
that severely impacted their trade flows due to the collapse of output and trade in advanced economies. The
severity of the current crisis can be gauged by the steep decline in the equity markets of advanced economies. The
bursting of the sub-prime housing bubble caused Wall Street to lose a staggering US$8 trillion in market
capitalization in a very short time (Brunnermier 2009). Interestingly, the loss in market capitalization and crash in
equity prices has been.
•
6. IMPACT OF CRISIS ON THE INDIAN ECONOMY
Global Integration of Indian Economy.
In response to its balance of payments (BOP) crisis in the early 1990s, India implemented a series of trade, industry, and
investment reforms. These reforms effectively liberalized the economy, ending a long period of relative isolation from
global markets and financial and technology flows. Since then the Indian economy has become increasingly integrated
with the world economy. 6 Consequently, current account flows (receipts and payments of merchandise and invisibles)
as a proportion of GDP increased from 20% in FY1990–1991 to 53% in FY2007–2008 (Figure 2). However, the most
significant change can be witnessed in the capital account. Due to the rationalization of procedures and conditions for
foreign investment, India has emerged as an attractive investment destination. This is reflected as an increase in foreign
portfolio investment inflows from US$2 billion in FY2001–2002 to US$29 billion in FY2007–2008. Foreign direct
investment (FDI) inflows have also gone up significantly in recent years, having risen to US$34.3 billion in FY2007–2008
from US$6.1 billion in FY2001–2002. At the same time, Indian corporations have also entered the global market for
mergers and acquisitions, resulting in some capital account outflow from India. As a result, two-way flows of portfolio
and direct foreign capital have gone up from a mere 12% of GDP in FY1990–1991, to 64% of the GDP in FY2007–2008,
registering a fivefold increase. Interestingly, these ratios are significantly higher than those in the US, for which trade in
goods and services constituted only 41% of GDP in 2007 and capital flows another 25% in the same year.
7. Tansmission of the Crisis to the Indian Economy
With India’s increased linkage with the world economy, India could not be expected to remain immune to the global crisis or be decoupled from the
global economy. While it is true that the Indian banking sector remained largely unaffected because of its very limited operations outside India or
exposure to sub-prime lending by foreign investment banks, the global crisis has affected India through three distinct channels. These channels are
financial markets, trade flows, and exchange rates. The financial sector includes the banking sector, equity markets (which are directly affected by
foreign institutional investment [FII] flows), external commercial borrowings (ECBs) that drive corporate investments, FDI, and remittances. The global
crisis had a differentiated impact on these various sub-sectors of the financial sector. Given prudent regulations and a proactive regulator, 7 the Indian
banking sector has remained more or less unaffected, at least directly, by the global crisis. The imposition by the RBI of a higher provisioning
requirement on commercial bank lending to the real estate sector helped to curb the growth of a real estate price bubble. This is one of the few global
examples of a countercyclical capital provisioning requirement by any central bank. In general, Indian banks were not overly exposed to sub-prime
lending. Only one of the larger private sector banks, ICICI Bank, was partly exposed but it managed to thwart a crisis because of its strong
balance sheet and timely action by the government, which virtually guaranteed its deposits. The banking sector as a whole has
maintained a healthy balance sheet. In fact, during the third quarter of FY2008, which was a nightmare for many big financial institutions
around the world, banks in India announced encouraging results. Against an absolute decline in the profitability of non-financial corporate
enterprises, the banking sector witnessed a jump of 43% in its profitability (Figure 3). A ban on complex structures like synthetic
securitization coupled with a close monitoring of appropriate lending norms by RBI also ensured a better quality of banking assets. The
non-performing assets as a ratio to gross advances have remained well within prudential norms (Figure 4). Further, with an average
capital risk weighted assets ratio (CRAR) of 13%, Indian banks are well capitalized and better placed to weather the economic downturn.
8. 1991 INDIAN ECONOMIC CRISIS
• The 1991 Indian economic crisis was an economic crisis in India resulting from a balance of payments deficit
due to excess reliance on imports and other external factors. India's economic problems started worsening in
1985 as imports swelled, leaving the country in a twin deficit: the Indian trade balance was in deficit at a time
when the government was running on a huge fiscal deficit
• The collapse of the Soviet Bloc, with which India had rupee exchange in trade, also caused problems. By the
end of 1990, in the run-up to the Gulf War, the dire situation meant that the Indian foreign exchange
reserves could have barely financed three weeks' worth of imports. Meanwhile, the government came close to
defaulting on its own financial obligations. By July that year, the low reserves had led to a sharp
depreciation/devaluation of the rupee, which in turn exacerbated the twin deficit problem.
• The Chandrasekhar government could not pass the budget in February 1991.after Moody downgraded India's
bond ratings. The ratings further deteriorated due to the unsuccessful passage of the budget. This made it
impossible for the country to seek short term loans and exacerbated the existing economic crisisThe World
Bank and IMF also stopped their assistance, leaving the government with no option except to mortgage the
country's gold to avoid defaulting on payments.
• In an attempt to seek an economic bailout from the IMF, the Indian government airlifted its national gold
reserves.
• The crisis, in turn, paved the way for the liberalisation of the Indian economy, since one of the conditions
stipulated in the World Bank and IMF loan (structural reform), required India to open itself up to participation
from foreign entities in its industries, including its state-owned enterprises.
• The program of economic policy reform which was put in place in 1990 has yielded good results, dramatically
improving the quality of life in India. It also resulted in a large increase in inequality with income share of Top
10% of the population increasing from 35% in 1991 to 57.1% in 2014. Likewise, the income share of Bottom
50% decreased from 20.1% in 1991 to 13.1% in 2014.
9. WHAT IS MEANT BY ECONOMIC CRIESE
The economic crisis represents a situation in which the economy of a country passes through a
sudden decrease of its force, decrease usually brought about by a financial crisis. The economic
crisis may have the shape of a stagflation, of a recession or of an economic depression
WHAT ARE THE EFFECTS OF ECONOMIC CRISES –
Increased unemployment, loss of income and increased vulnerability have been among the
dominant social impacts of the crisis.
During times of financial and economic crisis, households often adopt coping strategies, such as making changes in household
expenditure patterns; however, these can negatively influence education, health and nutrition, which may lead to lifelong
deficits, especially for children, and thus perpetuate the intergenerational transmission of poverty
10. WHY DID THE ECONOMIC CRISES HAPPEN
Generally, a crisis can occur if institutions or assets are overvalued, and can be exacerbated by
irrational or herd-like investor behavior. For example, a rapid string of selloffs can result in lower
asset prices, prompting individuals to dump assets or make huge savings withdrawals when a bank
failure is rumored.
WHICH SECTOR IS BACKBONE OF INDIAN ECONOMIC
There are 63.4 million MSMEs in India which contributes around 29% of India's GDP, 49 % of
exports, MSME sector is considered as the backbone of Indian economy, as it provides employment
to 111 million people, said Shri Reddy.
WHEN DID FACE INDIA ECONOMIC CRISES ?
1991
The 1991 Indian economic crisis was an economic crisis in India resulting from a balance of payments
deficit due to excess reliance on imports and other external factors.
11. WHAT IS CAUSES AND
SOLUTION OF ECONOMIC
CRISES
Kaiser-Meyer-Olkin test showed adequate
structure for a factor analysis (KMO = 0.849)
and a principal component analysis with
varimax rotation performed with SPSS showed
the existence of two different factors.
Confirmatory Factor Analysis with AMOS
confirmed the two factors, which are shown in
the Figure 1. The model shows good adjustment
to the data and high factor loadings, ranging
from 0.34 to 0.69. The Cronbach's alpha for the
whole scale was good (a = 0.78) and acceptable
for Factor 1 (a = 0.71) and Factor 2 (a = 0.64).
12. Opinion on the solutions to
the economic crisis
At the beginning, this part of the questionnaire
consisted of 9 items but the analysis of the
correlations item-total and the item analysis
based on the comparison of the means of the
groups with the highest and the lowest scores
(items with non-significant t test values are
eliminated) led to the elimination of 4 items
(Morales, 2011). Therefore, the final scale
consisted of 5 items with an acceptable
Cronbach's alpha (a = 0.61). An Exploratory
Factor Analysis with SPSS showed the
existence of only one factor with loadings
between 0.48 and 0.69. Kaiser-Meyer-Olkin
test showed adequate structure for a factor
analysis (KMO = 0.69) and for the final model
were reversed items "Increasing taxation" and
"Promote mostly public employment". A
Confirmatory Factor Analysis with AMOS
confirmed this one factor structure with very
good fit and loadings between 0.27 and 0.56
(Figure 2).
14. The goal of ethics in international business is to ensure the company gains a reputation for ethical and
responsible business practices in its home country and overseas. The result is a more equitable, principled
marketplace, strengthened by partnerships between businesses that share high ethical standards.
How does ethics affect global business?
The law often guides business ethics, but at other times business ethics provide a basic guideline that
businesses can choose to follow to gain public approval. Ethics impacts various aspects of management
and operations, including human resources, marketing, research and development, and even the
corporate mission.
15. Why is ethics important in
global business?
Business government control. Corporations establish
business ethics to promote integrity among their
employees and gain trust from key stakeholders, such
as investors and consumers.
Almost every company now has a business ethics
program. In part, that’s because technology and digital
communication have made it easier to identify and
publicize ethical missteps. To avoid the negative
implications, companies are devoting more resources
to business ethics. In one survey of accountants, for
example, 55 % said they believe the importance of
business ethics will continue to grow in the next three
years. In addition to establishing formal programs,
16. Ethics of globalization
is complex
notions of moral-ethical imperatives,
the values and objectives that are in
place based on human activities that
lead to the preservation of life on our
planet Earth and the development of
mankind itself.
It’s clear that changing values, as
influenced by global media, and
changing perceptions and cultures
will impact global ethics. The most
challenging aspect is that global
business does not have a single
definition of “fair” or “ethical.” While
culture influences the
17. definitions of those ideas, many companies are forced to navigate this sensitive area very carefully, as it
impacts both their bottom line and their reputations.
Global ethics will assist in the creation of an environment where the goals of sustainable development,
fulfilling human needs, and international cooperation can be reached. The economic prosperity of all
nations is also promoted by global ethics.