This year’s theme for the Forum – “Growth Opportunities Beyond the Crisis” – is a reminder that the financial landscape has changed dramatically since the last time this Forum was held. The turning point in the global financial crisis is generally agreed to have been the bankruptcy of the investment bank Lehman Brothers in the middle of September last year.
7 Almost 45% of the increase in trade deficit for FY06 stemmed from the rise in import bill for crude oil and petroleum products. Demand pressures are likely to grow further as the Government accelerates social and infrastructure programs, and segments of population and businesses benefit from the FY07 fiscal package.