Financial System of India in 2013

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Information about Financial System of India in 2013

Published on June 4, 2013

Author: joetrichy


Financial System in 2013: Financial System in 2013 Presentation for Refresher course - BUC Dr. D. Joseph Anbarasu Financial System – Controlled : Financial System – Controlled Financial System - Controlled: Financial System - Controlled Natural Resources in the Hands of Foreign Powers before 1947 Exploitation to Core Planned Economic Development was the policy Government Set up Public Enterprises in Every Field to facilitate the Financial System Fiscal Activism of Government and Underdevelopment of Financial Market: Fiscal Activism of Government and Underdevelopment of Financial Market Huge Public Expenditure Exhausted its Resources Borrowed at Concessional rates Fiscal Deficit mounting Interest rate structure was formless Nationalization & Its Impact: Nationalization & Its Impact Financial System and Economy in 1970s: Financial System and Economy in 1970s Governments were Happy about the system. Social Indicators were improving. Poverty Line declined. Growth rate was dismal. GDP rate was then around 3% Financial market were still in rigid control Players were few. Financial System in early 1980s: Financial System in early 1980s Post Reforms: Post Reforms Tax Reforms through Rationalization – Thanks to Raja Challiah Committee in mid 90s Fiscal Management contained significantly. External Sector Reforms were on. Net result was in the form of FDI, FII and stabilization of Rupee value against other major currencies. FERA was replaced by FEMA Private Sector Banks were allowed in 1993 by RBI. Foreign banks were also given more liberal entry . Introduction of several efficient instruments. Modulation of short-term liquidity and short term interest rates. A lot of reliance is being placed on indirect instruments of monetary policy. Financial System and Post Reform: Financial System and Post Reform Reforms and Effect in 2012: Reforms and Effect in 2012 Relied on Stability Growth rate is around 6% by average Asian Economic crisis did not affect Sub Prime market crisis did not affect Banking and Insurance Sector boom Healthy competition prevails Consumer gains Stock Market adopting best practices RBI controls NBFCs Reforms towards regulations Banking , Companies , Income tax, Bankruptcy, Negotiable Instrument so on Financial system today: Financial system today Where are we?: Where are we? The Literacy rate is dismal. Poverty line Threat Human Resource Index - 128th Place by UNDP Inflation rate is highly Volatile Reforms lacks Human Face They call it inclusive growth

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