Indian economy unexpectedly eases slowdown amidst global financial crisis turmoil.
The global financial crisis hit India hard, causing a drop in trade, foreign capital leaving, and a slowdown in the economy. The Indian government took quick action by implementing monetary and fiscal measures to stabilize the financial sector and boost domestic demand. Thanks to these efforts and other factors, India's economic slowdown started to improve in early 2009. The paper discusses the impact of the crisis on India, the government's response, and the recovery of the Indian economy.