ABSTRACT
India’s economic indicators displayed increasingly dismal data over 2011-12 and into the first quarter of 2012-13. The pressure on the economy was so sharp and so pervasive that commentators compared the situation with the balance-of-payments crisis in 1990-91. Although the two time periods are in no way similar, the economic security of the country and that of its people hinges on rapid and reasonable actions from policymakers and on urgent restoration of investor sentiments.
