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The document discusses the economic crisis in India during 1990-1991, highlighting factors such as high fiscal deficit, balance of payments issues, rising oil prices, and political instability that led to significant economic reforms. The reforms introduced by Prime Minister P.V. Narasimha Rao and Finance Minister Dr. Manmohan Singh aimed to liberalize, privatize, and globalize the economy, transitioning India from a socialist model to a market-driven system. Despite rapid economic growth following these re

Author

newankitraj24

Language

EN