Effect Of Financial Crisis On Indian Economy

Effect Of Financial Crisis On Indian Economy Introduction Financial Crisis a very common word heard in the recent few years. Year 2008, the beginning of the credit crunch. It was like Tsunami waves which took away almost everything from the economies. Recession can be defined as significant decline in the economic activity lasting more than a few months, which is normally visible in real GDP, real income, employment, industrial production, imports-exports, and wholesale-retail sales. Powerful developed economies like US and the Euro area were not able to control or reduce the effect of recession. The emerging economies like China, India and Brazil even though affected by recession but kept a good control over it. Through this research dissertation, I want to discuss the effect of financial crisis on a developing country. So, I have chosen India to discuss this topic. India is one of the powerful emerging economies in the world. In the recent years, India has shown a significant growth in GDP and overall. With recession and its effect overall the world, India with its good policies was able to prevent recession from entering into the deep roots of the country. Even though we can say financial crisis didnt affect India but still there are some sectors badly affected by the crisis. So I basically I would be discussing about the effect of financial crisis on India and the transmission of crisis from developed countries to India. Literature Review The literature review for this research includes the effect of financial crisis on the GDP growth rate of the country. The GDP growth rate of India was increasing at a rapid rate but showed a down-turn due to the after effect of recession. The GDP growth rate of the country was above 8.5% in 2010 and it was reduced to 8.2% at the start of 2011. The GDP was affected because of the countrys globalisation. In the last decade the countrys integration into the world economy was really fast. Due to this rapid growth, the percentage of imports-exports, as a proportion of GDP grew from 21.2% in 1997-98 to 34.7% in 2007-08. This growth shows the immense growth of economy. During the period of 2003-08, the investments share in GDP increased by 11%. Domestic funds was available in bulk but still it was expensive than foreign funding. The growth potential of India was strong in the global market, so the foreign investors were ready to provide funds at lower cost and thereby take risk. Because of this globalisation the financial crisis on the global economy affected the Indian economy. Countrys banking sector is relatively one of the healthy sectors in the economy and when the recession effect came to India both the Government of India and RBI (Reserve Bank of India) responded to the challenge in coordination and consultation. The actions of RBI comprised of monetary accommodation and counter cyclical regulatory forbearance. RBI measures helped the financial sector of the country to increase the initial primary liquidity which amounts up to 7% of countrys GDP. This shows how the banking sector of India controlled the effect of financial crisis. On the other hand, the economic activities of the country were slowing down. As the real GDP rate was diminished, the service sector, in which India is one of the best due to the powerful human resource, was affected. The service sector includes construction, transport communication, trade, hotels and restaurants sub-sectors. Business outsourcing is another major services provided by India. Most of the business outsourcing was done for US companies but due the financial crisis, this section affected badly. This in turn has affected the employment sector of the country. India is a country with high population, so a slight increase in the unemployment means so many of them has lost jobs. This must be the first time in seven years, exports have declined terribly. The industrial production index has also showed a negative growth. The uncertainty around the recession has decreased the business confidence. And the country has a decelerated investment demand. Before recession, Foreign Institutional Investors (FII) was the bulk buyers in the Indian stock market. They bought huge number of shares by investing millions of dollars, as Indian economy was a developing at a rapid rate. But the subprime crisis affected them very badly. Some of the companies were short of cash, whereas others were trapped with bad debts. Even there are companies which had to declare bankruptcy. These after effects had a great impact on the Indian stock markets. The adverse effect of financial crisis on the economic growth of the country can affect the poor and the food security of the country. The increase in food price in India was comparatively lower than that of global food prices. When the price of food globally increased by 150%, in India it was just 23%. This happened between 2005 and second quarter of 2008. After that, there was a decline in the food prices but it is still much higher than that at the beginning of the decade. If compared, the inflation of food articles was 10% and that of general inflation was 6%. India is one of the top receivers of foreign remittance. India secure the first position with 17.4 billion US $ in 2003. Middle-east is one of the main destinations for migrants from India. But after financial crisis, the Gulf countries, mainly UAE got affected badly. UAE is one of the countries, where we can find a lot of Indians in the construction sector which went down after the crisis. This has affected the flow of remittance from UAE to India. According to World Bank the remittance flow to developing countries can go down by 7%-10%. This will affect the foreign exchange reserve and investment sector of the country. While concluding the literature part, it is clear that Indian economy was affected badly. But due to strong policies and high liquidity, the government was able to reduce the after effect to an extent. Methodology Through this topic I would like to find answers for some questions. They are: What are the effects of global financial crisis on Indian economy? How did crisis affect Indian economy? What are the precautions and measures taken by the responsible authorities against crisis? In order to discuss these questions, I would like to research online as well as books newspapers, so that I get a clear-cut idea on financial crisis and Indian economy. Financial crisis is a familiar topic, so the details about it are available online. To do this research dissertation, online details are not enough, but interview with concerned persons will be useful for the project. When the research is done about the effect on Indian economy, the economy is divided into different sectors. Banking sector is one sector which was successful in preventing the recession effect. Giving more importance to Banking sector will be good enough to explain the effect on Indian economy.

College vs. High School Essay

Many students, especially those who do not have a family member who has been to college, think college is pretty much like high school, only bigger. But there are some very big differences. Many students who did not do well in high school blossom in college. Much of how college will differ depends on you. To be prepared, it helps you to know what differences lay ahead. Though academic requirements and student life vary depending on the college you attend, there are basic differences that apply in almost every case. One key step to a successful transition from high school to college is to anticipate and be prepared for the differences between the two settings. This is especially true for students with disabilities. In addition to dealing with the same transition issues that all students face, they also have the added challenge of changes in how support services are requested and arranged. In college, students must play a more active role and assume more responsibility. Because you will probably be over 18 years old in college, you will be treated like an adult. This is because you will be an adult. As an adult, you will have to make sure you do what you’re supposed to do, you will be responsible for the way you live, and you will have to meet greater expectations from others. Generally, there are fewer rules and regulations imposed by others in college. You will be expected to make and stick to your own schedule, as well as keep up on all your work. Professors expect you to be in class to learn. And whether or not you learn is your responsibility. Many students, after a brief period of adjustment, will settle into a balanced lifestyle of work and play. Those who don’t usually do not make it through their first year. In college, you will take on more responsibility for your decision, actions, and lifestyle. This is part of being on your own. Professors and administrators will probably not give you a hard time about your clothes, your hair, or your general behavior. But do be prepared to be held accountable for your behavior. There is no one to blame for not waking up on time, not eating properly, or not washing your clothes. People will expect more of you and expect you to develop in your own unique way in college. In high school, you are often expected to behave or perform to a minimum standard. Some people will expect you to go beyond minimal performance in college, so you can grow and develop as a person. You will also begin to realize what a great effect you can have – both positive and negative – on yourself, on others, and on the world around you. This can be both exciting and frightening. In college, you will be free to explore numerous paths and interests that were simply not open to you in high school. There are more foreign languages, arts, and sciences offered in college. Subjects like philosophy and religion are also taught at college but probably not in high school. Some subjects are taught differently in college. In high school, for instance, history may have been mainly names, dates, and places. You had to memorize facts and figures. In college, those facts are not nearly as important as why certain events and actions happened. In college English, less time may be spent on grammar and spelling (it is assumed you have mastered these) and more on writing creatively and criticizing literature. Many classes will be organized differently from the traditional high school lecture class. Some will be big lecture classes followed by small discussion groups. Some professors will have you read books, write papers, and discuss both in class. You may even have the chance to read independently with a professor or design your own research projects. Grading will be different, too. In some classes, you will have nothing but essay tests. In other, your entire grade will be determined by a single large paper or project. You may even have classes in which a group project is the primary grade. High school is a place you go to seven or eight hours a day, less than half the days of the year. Many colleges are set up to be your home – you will eat and sleep there, spend time off there, make new friends there, even do your laundry there. Therefore, chances are good that college will have an even greater effect on you than high school did. In fact, it will be a time in your life like no other.

Discrimination Based On Age, Race, Gender, And Sexual...

In our society of the twenty first century, there are a plethora of issues we face day by day. For some people, they see it, but think it isn’t possible to change it. After a long day of work, the news appears on the Internet, and I see the group of protestors I have been watching have been jailed. Following this, arguments were also made with the White House Security. I see on the TV a reporter continues to add more depressing news. Due to the cause, lobbyists are encountering strong opposition in Congress. I have been wanting to become a part of this change so I am going to be the one to create a group of grassroots activists. I want to make the difference over this ongoing controversial issue of discrimination based on age, race,†¦show more content†¦I will need programming skills to create the website, and event planning skills. I have my ideas, but I also need the minds of others to get things done. Our first problem is discrimination on age. The United Farm Work ers or those known as UFW is a labor union for farm workers in the United States. Cesar Chavez founded the association toughened by his early experience as a migrant worker. Many members come from the fields bringing knowledge and experience in farm work in order to benefit their brothers or sisters. They were the ones to have went through the low wages, crucial conditions, and bad living. They truly know how hard it is to have organized a union. There are tons of biographies indicating the stories of farm workers who worked at young ages such as 15 and 16. In history and in our society, young teenagers are struggling to work and go to school to help their families make a living day by day. They have to go through the long and tiring days, low wages, and just suffering in all. Not only is age discrimination on young ages, but also people who are 40 or older. In all, this effects someone’s confidence, job experience, financial situation, and the quality of life. The Age Discri mination Act only forbids the discrimination against those of 40 or older. From work situations, to harassment, and employmentShow MoreRelatedPublic School System Of Discrimination Based On Their Gender, Race, Ethnicity, Sexual Preference, Or Age1741 Words   |  7 Pagesa teacher was denied a promotion and accused the public school system of discrimination based on their gender, race, ethnicity, sexual preference, or age. Then, find an example for two different criteria, one for each case. Last, state three reasons that her / his accusation could be legally supported after you identify the supporting case. Research two cases in which a teacher was denied a promotion based on discrimination The first case is EEOC v. Thomasville City Schools, Civil Action No. 1:10-CV-00686Read MoreBenefits Of Organizational Diversity And Diversity Essay1402 Words   |  6 PagesIntroduction Organizational diversity is defined as the variety of differences amongst the people in a workplace with regard to background, education, organizational function, cognitive style, personality, age, tenure, ethnic group, gender, and race. It involves the perception people hold upon themselves and their work colleagues. Therefore, the most successful organizations tend to spend their resources on diversity management. Benefits of Organizational Diversity. The benefits of organizationalRead MoreEssay On Age Discrimination942 Words   |  4 PagesWorkplace Discrimination: It is illegal to discriminate based on race, religion, gender, or national original when hiring or in the workplace. Equal Employment Opportunity (EEO) practice is important in every work places. 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Sterba and Carl Cohen, authors of the book entitled Affirmative Action and Racial Preference, the job of the government is toRead MorePrinciples Of Diversity, Equality And Inclusion In Adult Social Care1414 Words   |  6 Pagesaware or recognise individual differences. The concept of diversity is to accept and respect. It means understanding that each individual is unique, and recognizing and accepting individual differences. These can be race, ethnicity, gender, sexual orientation, socio-economic status, age, physical abilities, religious beliefs, political beliefs, or other ideologies. It is the exploration of these differences in a safe, positive, and nurturing environment. It is about understanding each other and movingRead MoreDiscrimination In The Workplace Essay1386 Words   |  6 Pages2017 Assignment 1: Discrimination in the Workplace Workplace diversity is beneficial in many ways and on a variety of levels. 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Equality is to treat all as individuals; to respect race, disability, age, gender, religion, beliefs ,culture and sexual orientation. For all to be open to opportunities, to be treated fairly and respectfully, have rights and equal status in society and for all to reach their full potential. Diversity is to value that we are all uniqueRead MoreUnti 12 Nvq Level 3 Health and Social Care803 Words   |  4 Pagesdiversity is the differences between people based on culture, ethnic origin, nationality, gender, race, religion, beliefs, age, ability, sexual orientation etc. b) equality is giving everyone equal opportunities and treating everyone fairly but not the same. c) inclusion is including everyone in the activity and not leaving anyone out. d) discrimination is being prejudice about certain factors of someones life such as gender, sexual orientation, race etc. This means that people use these factors

Examples Of Heroism In To Kill A Mockingbird - 999 Words

What is your definition of a hero? When you hear the word ‘hero’, do you think of someone who is kind, compassionate, innocent, and honest? In To Kill A Mockingbird, there are many characters who show these characteristics. To Kill a Mockingbird, by Harper Lee, is a fictional novel about the drama that happens in a small southern town called Maycomb County. Maycomb is a racially separated town that has been hit hard by the Great Depression; and many people were going through tough times. The town experiences drama when an African-American man was accused of raping a white woman. The story is narrated Jean (Scout) Louise Finch, and takes place from when she was six to nine. Through a series of events, some of the main characters: Jem†¦show more content†¦That boy’s yo’ comp’ny and if he wants to eat up the tablecloth you let him, you hear.†(Chapter 13) This quote illustrates the idea that Calpurnia is a mother figure to the children bec ause she teaches them about right from wrong, manners, and how to treat others kindly. Lastly, Calpurnia is heroic because she cares for the children as if they were her own. Another character who shows heroism throughout the novel is Atticus. Atticus Finch is Scout and Jem’s father who is defending an African-American man in a rape case. Atticus is described as one of the most popular heroes in the novel. An example that he is heroic is because he is forgiving and passionate. An example that he is compassionate and forgiving was when Bob Ewell spat in his face, and he kept his composure. A quote that supports this statement was from Atticus when he got home from the incident with Bob Ewell: â€Å"So if spitting in my face and threatening me saved Mayella Ewell from one extra beating, that’s something I’ll gladly take.†(Chapter 23) This quote illustrated the idea that even though Bob Ewell was rude and disrespectful to Atticus, Atticus was still sympathet ic of Mayella Ewell. The second example that shows that Atticus is heroic was when he killed Tim Johnson. In the novel, the events were described by Scout as; â€Å"The rifle cracked. Tim Johnson leaped, flopped over and crumbled on the sidewalk in a brown-and-white heap. He didnt know whatShow MoreRelatedExamples Of Heroism In To Kill A Mockingbird1073 Words   |  5 Pageshimself when Bob Ewell spits on him, he demonstrates his heroism in logical ways because he wants to be truthful with his children and to the people of Maycomb. 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Scout is the daughter of Maycombs brave and courageous lawyer, Atticus Finch who defends Tom RobinsonRead MoreMajor Themes in To Kill a Mockingbird by Harper Lee989 Words   |  4 PagesIntroduction To Kill a Mockingbird by Harper Lee takes place in Maycomb, Alabama in 1903. This novel is basically a coming of age story for a young girl named Scout and her older brother named Jem. Who grows up in a time where racism is normal. They soon learn to stand up for what is right, just like their dad, Atticus. The Coexistence of Good and Evil The most important theme of To Kill a Mockingbird is the Coexistence of good and evil. The novel approaches this theme in many ways throughoutRead MoreTo Kill A Mockingbird Character Analysis721 Words   |  3 PagesLuke Netherton Mr. Humphrey class 6th Period English ll December 21 To Kill a Mockingbird is written by Harper Lee. It is the story of a black man’s struggle for justice. The protagonists Atticus Finch and his daughter Scout and other characters such as Tom Robinson and Bob Ewell, the author reveals her themes showing the evils of racism and the need in humans for respect. heroism is found in this novel, characters who show both physical and moral courage. Three characters to start areRead MoreTheme Of Innocence In To Kill A Mockingbird1374 Words   |  6 Pages Harper Lee’s To Kill a Mockingbird is best known as a literary classic, telling the tale of a young girl named Jean Louise â€Å"Scout† Finch’s childhood in a southern Alabama town during the great depression. While the fate of a black male convicted of rape still looms in the synopsis. To Kill a Mockingbird the title of the novel, refers to a quote on page 119. Both said by Atticus Finch the town of Maycombs lawyer and Miss Maudie his neighbor, â€Å"it’s a sin to kill a mockingbird†. As said by Miss MaudieRead MoreMoral Heroism and Courage1141 Words   |  5 PagesMoral heroism is still alive, even in a world filled with crisis, chaos, and turmoil. We were reminded of the immanent potential for crisis during the recent Boston Marathon bombings. Each and every day, law enforcement officers put their lives on the line in an act that can ea sily be described as morally courageous. And yet, most law enforcement officers would also say they were just doing their jobs. The Bible is replete with stories of moral heroism, the most apparent of which is of Jesus butRead MoreRacism, Injustice, and Discrimination in Harper Lee’s To Kill a Mockingbird800 Words   |  4 PagesRacism, Injustice, and Discrimination in Harper Lee’s To Kill a Mockingbird According to Shackleford, â€Å"The novel portrays a young girls love for her father and brother and the experience of childhood during the Great Depression in a racist, segregated society, which uses superficial and materialistic values to judge outsiders, including the powerful character Boo Radley† (Shackelford). The main character relates closely with her father because he is the superior role model in her life. Having herRead MoreA Hero’s Breakdown Essay1117 Words   |  5 PagesIdeas abound of what true heroism is in this day and age. To some, a true hero may be the person that led their favorite sports team to a championship. To others, true heroes are the doctors that helped a loved one get better from a serious illness. Some even see the person that gives them inspiration on a day to day basis as a true hero. To many, however, a true hero is so much more than that. To many, a true hero is the one that goes the extra mile t follow a strict moral code, both at h ome andRead MoreHeroism In To Kill A Mockingbird Analysis977 Words   |  4 Pages In the beginning of To Kill A Mockingbird, Atticus demonstrates his heroism with his wisdom and logic by not being violent and being truthful to the Maycomb society. An example of this is when Atticus is having a mature talk with Scout when he brings up, â€Å" You never really understand a person until you consider things from his point of view† (Lee 30 ). This illustrates how Atticus uses his wisdom to explain to his kids that you cannot jump to conclusions about a person because you do not truly understandRead MoreTo Kill a Mockingbird Essay About Racism795 Words   |  4 PagesTKAM Essay 10/6/09 (Re-Write 10/24/09) To Kill a Mockingbird by Harper Lee depicts racism in the 1930’s and shows the characters had to overcome challenges because of it. The 1930’s was a difficult time to live in because of racism against African Americans and the depression, where thousands of people lost their jobs. The idea â€Å"an extraordinary challenge can sometimes make an ordinary person into a hero† shows that anyone in To Kill a Mockingbird could have been a hero, even in a time of hardships