1991 Economic Reforms: 5 Months Which Transformed India
How did 1991 reforms, led by the then Finance Minister Manmohan Singh under Prime Minister Narasimha Rao, unfold?
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Forex for three weeks of imports. Political instability. Gold pledged to raise money. How did 1991 reforms unfold?
|(Photo: Erum Gour/The Quint)
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(This article was first published on 20 September 2019 and has been republished from The Quint's archives to mark Dr Manmohan Singh's 90th birthday on 26 September 2022.)
In 1991, India was far from being an economic superpower. Foreign exchange to cover just three weeks of imports, gold pledged to take loans, political instability with Rajiv Gandhi’s assassination: India was facing an economic and a political crisis. How did the battle to save India’s economy unfold?
Chapter 1: ‘Sir, Who Are You Representing?’
Chapter 2: ‘Suddenly, There Was An Explosion’
Chapter 3: A New Prime Minister & An Unfinished Lunch
Chapter 4: The Month Which Changed India
(Sources cited: India After Gandhi by Ramchandra Guha, The Hindu, India Today, Livemint, Businessworld)
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