MACROECONOMIC REVIEW
1.1 In July 2013, India was teetering on the edge of macroeconomic crisis with double digit
inflation, a high and rising current account deficit (CAD), and a falling rupee as investor sentiment
turned sour in the aftermath of the Fed's taper decision to signal the end of its quantitative easing.
India was grouped with Brazil, Indonesia, Turkey, and South
MACROECONOMIC REVIEW1.1 In July 2013, India was teetering on the edge of macroeconomic crisis with double digitinflation, a high and rising current account deficit (CAD), and a falling rupee as investor sentimentturned sour in the aftermath of the Fed's taper decision to signal the end of its quantitative easing.India was grouped with Brazil, Indonesia, Turkey, and South
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