In 2008-2009 financial year，hurt by the earlier tight money supply and international financial crisis，India’s economic growth slowed down. At present，India has some positive factors facing the crisis，which include coming down inflation rate，comparatively healthy banking system，sufficient foreign exchange reserves. However，its rising duel deficits （fiscal deficit and current account deficit） may cast a threat upon its long-term economic stability. Despite of its expansive economic policies，with global economy still being trapped into the crisis，India will not easily return to the fast track of 9% growth rate in a short time.