The current global financial recession which had its origins in a mortgage crisis in the US is now sweeping the entire world like a tsunami. Liberalisation, which has until now been associated with the beneficial outcome of faster growth in many developing economies, is increasingly being blamed for the transmission of the crisis in the US to the developing world. The result is the first truly global financial and economic recession.
Can India escape this recession?
Siddhartha Mitra of CUTS International investigates and concludes that a positive attitude aided by the unique features of the Indian economy might do the trick. For further details, please look at the article, available on https://cuts-international.org/PDF/meltdown_advisory.pdf