India’s 1991 liberalisation leap and lessons for today: Montek Singh Ahluwalia

News 01.07.2021

The reforms were aimed at unleashing the energies of the private sector to accelerate economic growth and to do so in a manner that ensured an adequate flow of benefits to the poor. They certainly succeeded in this objective.
The full benefits took time to materialise because a gradualist approach was adopted — entirely understandable in a democracy — but the results are dramatic if we look at a longer time frame. (Read More)

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