VISAKHAPATNAM: Though vulnerable, the financial sector has not been affected by the economic slowdown due to the country's conservative financial policies and the timely intervention of monetary authorities, said Regional Director of Council for Social Development A.C.K. Nambiar here on Friday.
The economic crisis had a moderate impact on the Indian economy and the growth rate was expected to look up soon due to the recent upward trend in exports but the major problem was the inflationary trend which should be taken care of, Prof. Nambiar said in his keynote address at the inaugural session of a national symposium on the impact of economic recession on the Indian economy, organised by the Department of Economics of Andhra University.
Director (personnel) of Visakhapatnam Steel Plant Y. Manohar, who inaugurated the symposium, felt the impact of recession was not much on the Indian economy because of the well-structured public sector banks and the financial sector. HoD of Economics and coordinator of the symposium R. Sudarsana Rao explained about the programme.
Fifty papers were presented by faculty of different universities in Andhra Pradesh and outside.
Director of Academic Staff College G. Ramachandrudu talked about the academic and research activities of the department.
Principal of AU College of Arts and Commerce L.K. Mohana Rao presided.
Prof. S.K.V.S. Raju and others spoke.