Role of Financial Intermediaries in the Economic Development of India

Abstract

The Indian Economy has accomplished almost seven and half decades of planning and this has been a period in
which the economy has achieved varying degrees of success and failure and this has also been an era of
experiment which has taught some hard lessons to the policy makers. It is no denying the fact that in the course
of the last four decades there has been a constant need to arrange and rearrange priorities between development
objectives to adjust to circumstances as they evolved, some of these circumstances reflected policy failure while
others were a reflection of Micro-economic inefficiencies and structural imbalances prevailing in the economy.
The issue is whether the Indian Economy has shown the much needed resilience in combating both the
Exogenous and Endogenous Economic crises as they evolved; Whether the Micro-Economic performance has
been sustained to the extent it was desired in view of constantly changing economic environment and also
changing priorities between development objectives.