Developed economies like the US, UK and Japan would fare relatively bad in terms of their emergence from the crisis with a ranking of 11th, 12th and 13th respectively, Assocham said in its study titled 'India & G20: Economic fundamentals amid global recession'. The study considered seven economic indicators relating to size of the economy, spending power, tax structure, interest rate policy, budget balances, debt burden and foreign exchange reserves. " India ranked last (19th) in terms of budget balance as a per centage of GDP and 12th in terms of public debt as a per centage of GDP, it said, adding that low ranking on these indicators gives the country key challenges to announce heavy fiscal stimulus package, it said. In terms of foreign exchange reserves that provide a cushion to protect an economy from speculative capital movements, The G-20 members are the finance ministers and central bank governors of 19 countries, including The country has made significant reduction in the key rates like cash reserve ratio (4 per cent) as well as the repo rate (3.5 per cent) in the last three months. Measures of such magnitude places Among the advanced economies, |
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