This week marks the completion of three decades since the launch of economic reforms in India. During this period, information technology has transformed the lives of people, spawned innovation and increased all round productivity, and the world has got more integrated through technology and lower trade barriers.
In 1991, India faced a severe balance of payments crisis that required mortgaging gold with the Bank of England to raise funds to meet the immediate needs. The new prime minister, Narasimha Rao, brought in Manmohan Singh as the finance minister, who not only addressed the immediate issues by negotiating loans with the International
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