Description

In the recent years, global economy has suffered unprecedented issues emerging one after another, thereby creating ripples of tribulations spreading worldwide and has often been referred as “ Bigger than the Great Depression of 1929” or "Once-in-a-Century” type of an event.

Rationale of the Project Report:
This Project Report aims at understanding and learning the root causes and ramifications of the ongoing global financial breakdown which has made the group of advanced countries like USA, UK, Japan, German, France, Canada and many more into severe recession that has spread this financial disease worldwide. Thus it is imperative for countries like India to learn critical lessons from this fiasco and to avoid such systemic failures in the economy.

SIGNIFICANCE OF THE REPORT IN INDIAN CONTEXT: Today even emerging markets like India and China are facing the heat as their growth opportunities are being butchered down as foreign companies are in damage control mode and pulling out enormous money from emerging markets. Although India is relatively immune due to its inclusive growth and domestic resilience but that too couldn’t stop from massive job cuts in the Manufacturing and Export sector. Moreover the recent Satyam fraud saga has just tainted ‘India Inc’ image worldwide and thus we need to strengthen the existing institutions to implement a proactive approach.
RECOMMENDATIONS: The project also mentions the possible solutions and recommendations that will enable us to make our system more resilient and transparent. The recommendations have been made on the following areas of economy: Corporate strategies Finance Government’s Fiscal and Taxation policies Public Spending and Infrastructure Investment International Trade and Finance Environmental safeguards.

Lastly India still has a long way to run before we could proclaim ourselves to be a “Super Power” as we need to face and triumph over the enormous challenges that are embedded in our path of reclaiming our lost and glorious title of “Sone Ki Chidiya”.