As our economy and financial markets grew, the integration with the world economy and global financial markets has also risen. The growing economy and our aspirations to be and remain among the fastest growing economies has expanded our funding needs. All these necessitate larger and deeper financial markets. The policy response to headwinds 9.
It is relevant to look at some of our policy responses in recent  times, especially to major global headwinds. Each successive episode of turmoil over the last decade and half has posed a specific set of challenges for the economy. Each has warranted a specific response. 10.