Like 1991, the 2021 crisis presents an opportunity5 min read 21 Jan 2021, 09:44 PM IST
Even if the economy grows at 8.7% in 2021-22, we may remain at the level we were in March 2020. We will need to run faster to stay where we are
With the arrival of 2021, the liberalization regime launched in 1991 completes 30 years. 1991 was a landmark moment in India’s post-independence history that changed the nature of the economy in fundamental ways. A severe balance of payments problem triggered an acute economic crisis that year. In response, India’s economic establishment launched a multipronged reforms agenda to repair India’s macroeconomic balance sheet and ignite growth.
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