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Economic Recession
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....conomic Recession <br>News and Press Release<br>Dated:- 16-12-2008<br><BR>With increasing globalisation of the Indian economy, the global financial crisis impacts the domestic economy through trade an....
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....d financial channels. The macro effect of the global crisis on the domestic economy has however been muted . Though there has been a moderation in growth with Gross Domestic Product at constant prices....
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.... growing at 7.8 percent during April- September of 2008-09 as compared to a growth of 9.3 percent in the corresponding period of 2007-08, the growth potential of the economy as determined by the savin....
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....gs and investment ratios, is robust. To safeguard the economy against adverse impact of the global financial crisis, the Reserve Bank of India has taken measures inter-alia for reduction in Cash Res....
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....erve Ratio and Statutory Liquidity Ratio, reduction in repo and reverse repo rates and for liberalising access to external commercial borrowings. The Government has announced a fiscal package which in....
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....cludes additional plan expenditures, reduction in the ad valorem Cenvat rate and measures to support exports. These measures have ensured the effective functioning of the financial system and improvem....
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....ent in liquidity in the money market. This information was given by Shri Pawan Kumar Bansal, Minister of State for Finance in reply to a question raised by Shri Shantaram Laxman Naik in Rajya Sabha ....
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....today.<BR> News - Press release - PIB....