You are looking at 1 - 1 of 1 items :

  • natural rate of interest x
  • Asian Development x
  • Business 2017 x
Clear All
You do not have access to this content

Subhash C. Jain and Ben L. Kedia

Reshaping India in the New Global Context 7.  In search of a dream In 1991, India’s economy was essentially in shambles. During 1965 to 1990, under the administration of Lal Bhadur Shastri, Indira Gandhi and Rajiv Gandhi, the country was condemned to a dismal 3–4 percent increase in GDP, known as the “Hindu rate of growth.” That forced India to change. Guided by Manmohan Singh, then finance minister, the government liberalized the economy, scrapped licensing and opened up to traders and investors. In a few years, the results were spectacular. A