One Event that has affected the Indian Economy

The subprime crisis in the US and the recession in the US

The subprime concept
Anyone with a bad history with respect to repayment of loans is tagged by the US and thereby he cannot get loans(in any form) from any Government agency in US.This person then finds out other options of borrowing like taking money(or any other asset) from a non recognised or private firm.These bodies charge a bit extra on interest.If this person now defaults with these private agencies,the agencies in turn default to the Government in some way leading to a scenario of subprime crisis.

In US the subprime crisis happened with respect to the housing business.This led to overall recession in the US economy.The cash reserve with the US government decreased.The spending power of people was affected.The immediate repercussion of this was felt by the developing economies like India,where in big players like US have invested a lot of funds in various......

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Title: Rj
Approximate Word Count: 404
Approximate Pages: 2 (250 words per double-spaced page)

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