When we look at the economy of the India before1990, our financial problems were in plain sight and fairly simple to understand. Firstly, there was the problem of rising unemployment and a low rate of growth. Secondly, we had a huge budget deficit, a...
This narrative details experiences of working in the highly controlled domain of imports and exports before 1991. Imports and exports were governed by the archaic Imports and Exports Control Act (1947), a law that was obsolete and unresponsive to th...
This narrative highlights two key areas pertaining to liberalization. Mr. Sanjay Gandhi recounts the difficulty in obtaining kerosene, due to stringent quotas and limits on distribution. The ‘kerosene license’ referenced to in the story, is a documen...
