INDIA IS A NEW FINANCIAL DONOR
N. V. GALISHCHEVA Candidate of Economic Sciences India Keywords:, official development assistance, South Asia, Africa In the last two decades, new major creditor countries such as China and Brazil have emerged in the global financial market. It is noteworthy that they are not members of the Development Assistance Committee of the Club of Developed Countries - the Organization for Economic Cooperation and Development (OECD). India, which until recently was primarily a recipient of foreign aid in the form of loans, plays a very prominent role among new lenders. However, since the late 1990s. India is gradually transforming into a major financial donor to developing countries. Such a change in India's status is primarily due to the success achieved through well-conducted liberal economic reforms: a noticeable increase in its economic power, a rapid increase in the volume of gold and foreign exchange reserves, etc. Today, India is the 5th largest donor to Afghanistan, and an important source of aid to its neighbors in the region - Nepal, Bhutan, Sri Lanka, Myanmar, as well as to African states, to which the volume of Indian loans has increased annually by an average of 20% in the. LONG ROAD FROM RECIPIENT TO DONOR The economic development of India in the first decades after independence was largely based on foreign loans, which was dictated by the need to find monetary resources to finance the creation of basic industries. Due to the lack of domestic mobilization funds, the Indian Government was often forced to resort to a policy of deficit financing, which inevitably led to an increase in the rate of inflation. On the other hand, periodic borrowing in the domestic market led to an increase in the volume of the domestic component of public debt. Foreign aid in the form of loans proved to be the" lifeline " that India firmly clung to, especially in 1951-1979. Its share in the total amount of funds raised for the development of the Indian economy ranged from 10% to 30% in ... Read more
____________________

This publication was posted on Libmonster in another country. The article seemed interesting to our editor.

Full version: https://library.se/m/articles/view/INDIA-IS-A-NEW-FINANCIAL-DONOR
Libmonster Online · 489 days ago 0 234
Professional Authors' Comments:
Order by: 
Per page: 
 
  • There are no comments yet
Library guests comments




Actions
Rate
0 votes
Publisher
Libmonster Online
New-York, United States
12.08.2023 (489 days ago)
Link
Permanent link to this publication:

https://libmonster.com/blogs/entry/INDIA-IS-A-NEW-FINANCIAL-DONOR


© libmonster.com
 
Library Partners

LIBMONSTER.COM - U.S. Digital Library

Create your author's collection of articles, books, author's works, biographies, photographic documents, files. Save forever your author's legacy in digital form. Click here to register as an author.
INDIA IS A NEW FINANCIAL DONOR
 

Editorial Contacts
Chat for Authors: U.S. LIVE: We are in social networks:

About · News · For Advertisers

U.S. Digital Library ® All rights reserved.
2014-2024, LIBMONSTER.COM is a part of Libmonster, international library network (open map)
Keeping the heritage of the United States of America


LIBMONSTER NETWORK ONE WORLD - ONE LIBRARY

US-Great Britain Sweden Serbia
Russia Belarus Ukraine Kazakhstan Moldova Tajikistan Estonia Russia-2 Belarus-2

Create and store your author's collection at Libmonster: articles, books, studies. Libmonster will spread your heritage all over the world (through a network of affiliates, partner libraries, search engines, social networks). You will be able to share a link to your profile with colleagues, students, readers and other interested parties, in order to acquaint them with your copyright heritage. Once you register, you have more than 100 tools at your disposal to build your own author collection. It's free: it was, it is, and it always will be.

Download app for Android