Present situation reminiscent of 1991 crisis: CPI

Even as Prime Minister Manmohan Singh on Saturday ruled out the possibility of India witnessing a repeat of the 1991 balance of payments crisis and also reversing the path to globalisation of the economy, CPI (M) leader, Sitaram Yechury on Saturday said that increased globalisation was proving to beneficial only for corporate and foreign markets, rather than empowering the common people of the country.