There is little doubt that the global economic crisis has worsened India’s growth prospects, but the slowdown began long before the US financial meltdown began. The US sub-prime crisis first surfaced around August 2007 (and peaked when Lehman Brothers collapsed in September 2008) but, as ratings agency ICRA’s Monetary Research Project Director Mihir Rakshit points out in a recent paper in the Economic & Political Weekly, India’s deceleration predates the global meltdown.
In a mortgage market, borrowers are categorised either as ‘prime’, which indicates their good credit-worthiness, based on their sound track record; or as ‘sub-prime’, meaning that their track record in repaying loans is below par.
Ever since the sub-prime crisis hit the US economy and began to impact its financial sector firms, the debate in the Indian software sector was whether the slowdown staring it in the face would be as
A slowdown in the global economy and sub-prime crisis in the banking, financial and insurance services (BFSI) sector, its major revenue earners, force the domestic IT industry to take a relook at its
Developing nations that escaped the initial sub-prime crisis are now in its grip.
W hen the subprime financial crisis broke out a year ago, it did not affect developing countries directly on account
At 10:40 pm on April 27, a blaze at the beige Victorian house at 19 Nye St lit up a neighbourhood littered with boarded-up homes on the north side of New Bedford, Massachusetts.
The 2008 Union budget must be remembered. Not because it heralds the news of an early election. But because it comes at a time when the world is battling four different but linked developments. First,
Content Guide
