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The five-day annual World Economic Forum meeting concluded here today with global CEOs listing job creation, income inequality and high energy prices as the most pressing areas of concern in 2012 for the world economy, including emerging markets like India. While India has a cushion from domestic demand, it is not immune either from the global impact.
India's fiscal deficit
In a session on India, Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, said, “people are more worried about India than other emerging economies because India has less scope for doing anything. China can roll out infrastructure spending because it does not have the same fiscal deficit“.
However, global ratings agency S&P President Douglas L Peterson said that India's investment grade rating is more likely to improve than deteriorate even though the country has development challenges.
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