The Indian Economy Since 1991, 2nd Edition

Foreword

India implemented structural adjustment reforms in the context of the unprecedented economic crisis arising due to acute balance-of-payment problems, mounting external and internal debt, galloping inflation and severe infrastructure constraints. The economic reforms implemented in this context since 1991 have resulted in unprecedented economic changes in the domestic and external sectors of the economy. During the last one-and a-half decades, the economy achieved a relatively high rate of growth compared to earlier periods, attracted more domestic and foreign investment, strengthened the productive base of the economy, achieved rapid technological progress, improved the infrastructural base, contained inflation, achieved steady and sustained ...