About this document

1991 Indian Economic Crisis Overview by Chasity Wright is a document available to read on EtoBox.

The 1991 Indian economic crisis was caused by a large trade deficit and growing fiscal deficit in the 1980s that depleted foreign exchange reserves. By 1991, reserves could only finance 3 weeks of imports and the government was on the verge of defaulting. To receive an IMF bailout, India airlifted its gold reserves to London and Switzerland as collateral. Economic reforms were introduced under the Narasimha Rao government, including currency devaluation and trade liberalization. These reforms helped stabili

Author

Chasity Wright

Language

EN