GLOBAL FINANCIAL CRISIS: AN INDIAN CONTEXT

The financial crisis that originated in the United States in 2007-08 became a global financial crisis unprecedented since the Great Depression of the 1930s. Since mid-september of 2008 financial markets had collapsed and the world entered into possibly the worst recession of the post-second world war period. We shall consider the probable cause of the financial crisis and also the likely influence of the financial crisis on the Indian economy. Section I discuss the contributing factors behind the financial II considers the impact on the Indian economy.