Reflecting the rapid turn of events that could impair assets down the line, we reversed the counter – cyclical regulatory measures introduced in 2006. Government's fiscal stimulus Over the last five years, both the central and state governments in India have made a serious efforts to reverse the fiscal excesses of the past.
The leading people of that time understood the need for the young Serbian state to pursue the most advanced European standards and visited almost a half of European countries, including Germany, Switzerland and Belgium, to learn more about modern central bank organization and operations and to apply this knowledge in formulating the law on the central bank.