The Indian economy weathered the financial turbulence well
6.7 % growth in 2008/09 – amongst the highest growth rates in the world. well calibrated adjustments in the monetary and fiscal policies
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From the third quarter of 2008, the dollar, which was sliding against almost all currencies, suddenly found itself on an escalator. Policy mechanics, and not market economics, explains the greenback's rise, says S. GURUMURTHY.
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