ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Fate of India Unincorporated

While evaluating the Indian policy responses to the global crisis, this article focuses on the likely extent of the spread of the crisis to India and how it will affect the domestic economy. In India, exports have declined, foreign institutional investment has fallen, and share and real estate prices have crashed. The social cost of the slowdown has been unemployment. India's policy response has so far addressed the issue of reviving the real economy but has done little to build firewalls around the financial sector and provide safety nets for the vulnerable sections. Some measures which could go a long way towards attainment of the last two objectives are outlined.

The views expressed here are personal and do not reect those of the institution that the author works for.

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