Budget Track, Volume 6, Track 2
The global economic recession, a direct fallout of the financial crisis that originated in the US, has affected not only the developed countries but also many developing and emerging economies across the world. The extent of the impact of this recession has varied across economies depending on their linkages with the global economy. Consequently, measures to deal with the recession have acquired centrality among the policymakers across the globe. In India too, one of the major challenges for the next Government at the Centre would be to tackle the impact of the economic recession on our economy. While our policymakers have been responsive to the demands of the private corporate sector affected by the economic downturn, many progressive thinkers, policy analysts and activists have raised concerns about their willingness to address the needs of the disadvantaged sections of India’s population, who have been hit hard with the recession. In this backdrop, the present issue of Budget Track focuses on some of the important aspects of the impact of the global economic recession on India.