Rakesh Mohan, who has been economic affairs secretary and a former deputy governor of the Reserve Bank of India (RBI), talks to Indivjal Dhasmana on some of his policy observations, ahead of the release of a book on economic reforms, edited by him. Former prime minister Manmohan Singh will release the book on Friday. Edited excerpts:
The book says that though economic reforms were triggered by the twin balance of payments and fiscal crisis, those were largely homegrown and were the result of technocratic consensus right through the 1980s. However, critics say that the reforms were thrust upon. Do you agree?
I don't agree with that at all. We need to look at the history of what went on in