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A Critical Study On Global Recession - 2008 And Its Impact On India
In recent years, the Indian Economy experienced a pronounced slow down in economic activity. In many ways, the slow down looked like a typical recession driven by a fall in aggregate supply. Seven notable shocks explain this event. They are β Increase in excess demand β Increase Money supply β Fall in the real GDP β Fall in the composition of agriculture to GDP β Increase in unemployment rate β Lower capital inflow β Unfavorable BoT The responsiveness of fiscal and monetary policy quickly to this events and their impact in rectifying the problems is analyzed in this paper