Published Paper Details:

The Global Financial Crisis, which originated from the USA and then ultimately affected almost each and every economy of the World. The financial crisis is an important economic event which engulfed the entire world towards the end of 2016. It resulted in the economic meltdown of USA and Europe It proved the Marxian prediction of the inevitable collapse of capitalism. It also revived the interest in the long forgotten Keynesian solution of government intervention in economic activity to save the western capitalist economies. How is India affected by this global financial crisis? How has the government managed the impact of the global financial crisis on the Indian economy? The effects of Global Financial Crisis on the Indian Economy and the Indian Financial System will also be discussed and that how the Government of India and the Reserve Bank of India responded towards it through its policy modifications and various other qualitative and quantitative tools and techniques. A brief picture of the current state of the Indian Economy would be presented later in this chapter along with the future prospects of the Economy.