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30 Years Of Reforms


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How to get the next set of reforms right

Second-generation reforms require careful deliberation, effective implementation, and accommodative politics

The government has the willingness, intent and numbers to push reforms. But whether it is able to take everyone along, frame policies factoring in socioeconomic complexities, and stay the course will determine India’s economic trajectory (Vipin Kumar /HT PHOTO)
Updated on Aug 02, 2021 12:00 PM IST
ByR Sukumar

Don’t turn the clock back on investment norms

As an integral element of these structural economic reforms, India adopted measures aimed at liberalising foreign investment, both direct and institutional, to overcome the problem of over-dependence on debt three decades ago

Former Prime Minister PV Narasimha Rao talking to his Cabinet colleague Manmohan Singh in 1994. (Sanjay Sharma / HT Archive)
Updated on Jul 08, 2021 07:49 PM IST
ByPrabhash Ranjan

Trade dilemma in a populist world

India’s foreign exchange reserves were valued at $598 billion in May 2021, more than 15 times the value of India’s imports that month.

India’s foreign exchange reserves could have paid for just two weeks of imports when the balance of payment crisis erupted in 1991.(HT file photo)
Published on Jul 07, 2021 01:07 AM IST
By, New Delhi

Return of India’s poverty challenge

The first two decades of economic reforms delivered gains in terms of poverty reduction front.

Fruits of economic reforms had not been shared equally across class and region.(Mint File Photo)
Updated on Jul 06, 2021 08:26 AM IST
By, Hindustan Times, New Delhi

3 decades of reforms: Cup is only half-full

As India completes three decades of economic reforms, the question is not whether economic reforms were good for the economy. It is whether the best of the reform years are already behind us and what this means for India’s per capita incomes, which are still very low.

The 1960s and the 1970s were worse in terms of economic growth than the 1950s.(HT Photo)
Published on Jul 05, 2021 12:51 AM IST
By, Hindustan Times, New Delhi
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