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30 years of economic reforms: Here's a look at the broad contours of change

The pace of changes in the first 100 days of a minority govt remains unparalleled till today

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IN THE HOT SEAT: Former Prime Minister P V Narasimha Rao at a media conference on July 20, 1991 | PTI

8 min read Last Updated : Jul 04 2021 | 1:27 PM IST

Thirty years ago, a finance minister who was yet to become a member of Parliament ushered in a series of bold reforms that dramatically altered the course of economic policy making in India.

No less dramatic was the way most of those reforms were initiated in the first 100 days of that government to bail the Indian economy out of an unprecedented fiscal and balance of payments crisis.

Neither did the government enjoy a majority in the Lok Sabha, nor was its prime minister, just like the finance minister, a member of Parliament, while they took those big-bang decisions. Such

Topics : Reserve Bank of India Income tax Economic Liberalisation Economic reforms 1991 Indian Economy PV Narasimha Rao Manmohan Singh P Chidambaram Finance Ministry Finance minister Budget

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