C h a p tndian      e rinan ial       ar et
                              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.