Is the financial crisis over for india, or is it just beginning?

I think the indian economy is not completly synchronised with the global economy. Instead it is lagging. We are boasting we escaped the crisis, but i think is only arriving. The components of the banking crisis is falling real estate prices coupled with lower paying capacity of individuals. I see that property prices have only started to fall. Job lossess have only started. The Govt is almost paralysed. So wont be surprised to see some troubles