A lot of interesting events have happened this year in the business and political world.
The first few months of 2008 saw the crude oil prices touching record heights, leading to high inflation and commodity prices. This affects petrol and diesel prices in India. Read up on the debate on raising the fuel prices Versus the government absorbing the full cost, reducing duties, etc. Read up on fuel pricing in India, how the government owned oil PSUs make the losses, and get subsidized by the oil bonds again by the government. This can be a hot GD topic.
Towards the end of January, stock markets around the world plunge on growing fears of US recession, and the 2007 subprime mortgage crisis. Read up on the whole subprime crisis, defaulting the bad loans, etc.
Rising food and fuel prices trigger riots and unrest in the Third World. Countries like Zimbabwe have suffered terribly. Expect a tricky question - How would you handle the situation if you were Zimbabwe's president?
June 27 - After three decades as the Chairman of Microsoft Corporation, Bill Gates steps down from daily duties to concentrate on philanthropy. Expect a few questions or a hot GD on humanitarian side of a business.
August 8–24 - The 2008 Summer Olympics take place in Beijing, China. This prompts a group discussion topic - How do Sports affect businesses?
October 3 - Global financial crisis - US President George W. Bush signs the revised Emergency Economic Stabilization Act into law, creating a 700 billion dollar Treasury fund to purchase failing bank assets. Read up on differing views on whether the government should save the banks.
October 22 - The Indian Space Research Organization (ISRO) successfully launches Chandrayaan-1 spacecraft on a lunar exploration mission. What are your views on expenditure on space exploration, as against taking economic measures to help businesses?
November 4 - Barack Obama becomes the first African-American President-elect. Expect questions / group discussion on leadership and diversity.
November 26 - November 29 - A series of terrorist attacks in Mumbai, India kills 188, and injures at least 294. Draws the whole world's attention towards global terrorism, lapses in Indian security / law enforcement agencies and their capabilities. Expect a group discussion on how terrorism affects economy and businesses. If the panel decides to throw something provocative, expect the topic - "Should India attack Pakistan?"http://en.wikipedia.org/wiki/2008http://en.wikipedia.org/wiki/2008_in_economics