Thus it is obvious that the global events have not stalled the reform agenda: rather, a number of measures have been taken for development of the financial markets drawing upon the lessons learnt from the crisis. BIS Review 25/2010  11  Commencement of calibrated exit 54.
As the growth momentum gathers pace, RBI is conscious of the growing need for a calibrated exit from the accommodative monetary policy stance, put in place as part of the strategy to manage the impact of the crisis. However, the policy dilemma facing India is qualitatively different from that faced by the advanced economies.