Fizana Ashraf Malik*
The purpose of this paper is to encourage financial system in overall development of the country. Economic development of any country relies on its economic system which incorporates its banks, stock markets, insurance sector, pension funds and governments run financial organization authoritatively. Businesses and industries square measure supported by the money systems that because growth employed and successively increase economic activity and domestic trade. It enables the flow of funds from savers to investors to aid in wealth creation and development.
Finance is that the key to attain semi-permanent growth prospective for any country. throughout the last decade, Indian economy has shown loads of progress from a closed, controlled, slow growing economy to an additional open, additional liberalized and additionally one in all a quick growing economy among the developed nations. The paper additionally shows that so as to form economic system more practical and economical, the necessity of effective management, correct governance and management among the various elements of the economic system is needed.
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