One of the most immediate effects of the recession has been that the Indian stock market has taken a beating due to the FIIs pulling out their money. But the promise of a stable government and clear majority has helped to fuel the growth of the economy. India's G.D.P. Growth estimate for the current fiscal (2008-2009) has been down graded from 8 percent to 7.4 percent and for the next Financial year (2008-2009) from 8.5 percent to 7 percent. This has still been a triumph for the new government and policy holders.
Some interesting observations and future predictions in the article below :
http://en.oboulo.com/global-crisis-and-its-impact-on-the-indian-economy-65052.html
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