ABSTRACT
The Goddess of Wealth, Lakshmi, has been smiling on the Reserve Bank of India with the forex reserves crossing the $200 billion mark in April 2007, giving a coveted position that only a few countries in the world hold. A bumper agricultural harvest, revival of industrial growth, sustained export growth, a pick-up in bank credit expansion, were all signs of the booming phase of the economy. With inflation under control and interest rates still stable at lower levels, the outlook for the rise in industrial and infrastructure investment remained optimistic.
