Finance Minister Pranab Mukherjee stated that the inadequate rainfall is the reason for the decline in the economy this year while the previous year it had started moving upward due to two stimulus packages. However, when asked about the slowdown of credit between September, 2008 and June, 2009 he said that the agriculture minister is making the evaluation and trying hard to handle the situation.
In addition, it had its worst impact when the there was a major financial crisis all over the world and the industrial crisis surrounded developed countries however, credit is necessary for investment, for carrying business and utilizing it for fruitful purposes. Moreover, even if the government takes action now by amending the credit policy, it will take some more time to get its full impact on the whole economy.
In addition, it had its worst impact when the there was a major financial crisis all over the world and the industrial crisis surrounded developed countries however, credit is necessary for investment, for carrying business and utilizing it for fruitful purposes. Moreover, even if the government takes action now by amending the credit policy, it will take some more time to get its full impact on the whole economy.
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