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Kerala PSC Indian Economy Book Study Materials Page 311
Book's First Page11 11.1 C h a p tndian e rinan ial ar et IndIan FInancIal Market There is now ample empirical research to corroborate Schumpeter’s conjecture that financial development facilitates real economic growth. The depth of the financial markets and availability of diverse products should therefore not be treated as mere adornment but as critical ingredients of inclusive growth.* In This Chapter... Introduction DFHI Indian Money Market Indian Capital Market Mutual Funds Financial Regulation * As the Economic Survey 2011–12 refers to the Australian economist Joseph A. Schumpeter (1883–1950) to emphasise the i portan e o the nan ia ar et in an e ono . See Ministry of Finance, Economic Survey 2011–12 ( New Delhi: Government of India, 2012), p. 40.