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rket there is a parallel increase in the population growth which levels out the labor market and keeps the unemployment high. Compared to the 1980s to 2000s India has increased its Labor Force rate by 49%. Along with this large jump in the Labor Force the Unemployment also rose slightly. It was estimated that in the years 1992-2001, Unemployment has risen by 8 percent because of the rapid growth in population and standard of living.

Exchange Rates & Monetary Policies 汇率与货币政策
Before describing the monetary policy of India, there is another factor that has to be look upon and that is the role of the central bank. The central bank of India or the Reserve Bank of India (RBI) was established in April 1935 with a share capital of Rs. 5 crores and than nationalized in 1949. The basic functioning of the bank was constituted for the following need to regulate the issue of banknotes, to maintain reserves with a view to securing monetary stability and, to operate the credit and currency system of the country to its advantage. One of the developmental challenges for the Reserve Bank of India during 1980s through 1995 was to build a financial network with a wide geographical spread and deep socioeconomic reach. In 1990s India increased the money supply causing inflation to occur. With the exchange rate being flexible there was a lot of free capital movement which India could not keep up with. To attack this issue, Reserve Bank of India decided to change the policy from a flexible exchange rate to foreign exchange rate to maintain a stable exchange rate. At the same time the Reserve Bank of India sold securities to absorb liquidity so it would not weaken its restrictive monetary policy. It also allows the pressure of capital inflow to be absorbed helping the exchange rate to stabilize.

IMF 国际货币基金组织
Economics of Globalization has led India to integrate itself with the rest of the world. At times there were difficulties were India faced Recession and Booms and even with negative affects, globalization has brought, once a country that could not rule it self to one of the rising power in the economic world today. Throughout the years India has evolved from what it was during 1980s through 1990s, a country struggling to survive and keep up with the developing world, to a major outsourcing country throughout 2000 till nowadays and one of the leading exports in the world. Globalization played a main factor in helping India achieve its potential capabilities and will throughout the years; the Long Run Growth, Business Cycles, Labor Markets, Exchange Rates, and the Monetary Policy are few that were affected for the betterment of the country by globalization. Many statements have been made regarding globalization and its negative affects on countries but the negative affects are just a small investment on the benefits that a country acquires through globalization.



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