The Countercyclical Measures of December 2008, January 2009 and the Interim Budget of February 2009 - Implications for the Indian Steel Industry

摘要

The contagion effect of the current global financial crisis on India shows that de-coupling of our economy from the mature market economies of the West is yet to take place. Current developments indicate that the regulatory regime guiding India's financial sector has been able to limit the possible damages arising out of the global meltdown but could not provide complete immunity to the Indian economy, which has forged important links with the rest of the world during the last two decades. Clearly, India has not been able to escape unhurt - at least over the short term.