Name: Sachin A. Palande
Country: India

Year: 2025
Volume: Volume-12, Issue-1 (Jan-June)
Page Number: 163-172
DOI: https://doi.org/10.5281/zenodo.16719584

ABSTRACT
India an emerging market economy thought it be different this time and they be able to
escape the scar, also got affected though to a lesser extent . But the lesson to be learnt is we
are living in a global villages, and our sustainable growth as well as our challenges is linked,
though to a larger or smaller extent depending upon internal as well as external macros. This
is mainly due to the inter linkages between various economies that any such crisis takes
global shape and can only be redressed by managing together . Collective efforts of larger
number of regulators and governments worldwide are needed for the rescue during the times
of crisis. This leads us to the conclusion that globalization and hence the financial market
liberalization has converted the job of regulators to proactively manage macroeconomic
policies rather than to controlling or regulating markets. The role of regulator is to keep a
close watch on internal as well as external macro-economic developments and manage
proactively its foreign trade policies, foreign exchange reserves and fluctuations in currency
values , fiscal policies , monetary policies etc. to take the economy on the desired level of
economic growth which is sustainable in long run and manage the short term hiccups arising
in the way of doing so.
Keywords: Global Financial Crisis, economies, macroeconomic policies.