India is in the twin-deficit club

August 13, 2011 at 10:26 pm (Uncategorized)

“Indian economy is one of the few economies in the world to have both fiscal and current
account deficits. Hence it is also termed as a twin deficit economy. The few economies
which are a member of this club are US, UK, Greece, Ireland etc. In other words, this
membership is nothing to be proud of as all these economies have faced severe recession in
2007. Twin-deficit may not have been the sole reason for recession in these economies but
did magnify the impact of the crisis.”

http://www.stcipd.com/UserFiles/File/India%20in%20Twin%20Deficit%20Club%20%20Implications%20and%20Issues.pdf

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