Unconventional monetary policy & macroeconomic indicators of Indian economy: Is India still vulnerable?

During the global financial crises of 2008, most of the developed countries of the world applied unconventional monetary policy which essentially relates to the balance sheet policy of central banks. However, entry and exit from such policies have strong spillover effects on capital flows towards emerging market economies (EMEs) including India. Both Reserve Bank of India and govt. undoubtedly, handled the situation successfully. Under this backdrop this paper is an attempt to analyse various Macroeconomic Indicators of India. The results show that our external debt indicators are still vulnerable if we compare them with the benchmark 2004. Having clawed back after a major threat to its sovereign ratings last year, India's policy makers now need to consolidate.