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Centre, RBI reforms to revive economy

During 2008-09 for several months, Indian exports suffered heavily and partly in the current financial year due to the global recession. As several countries in the US, UK and Europe were affected, Indian exporters witnessed a huge slump in product demand.
However, various economic reforms undertaken by the Government of India and the Reserve Bank of India helped revive the slump in the economy.
Munish Lakhani, proprietor of SR Electronics, a mid-size company dealing with electronic products in Mumbai, says, “During the past few months the demand for electronic products has increased quite rapidly and we hope it helps to fight the financial crisis and brings back the faith of customers.”
 Mahendra Singh, proprietor of Bhambra Engineering Works, a mid-size machinery unit in Kolkata, says, “The high industrial output is due to efforts on the part of GoI, which constantly introduced economic reforms when the country was plunging into financial crisis.”

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