An anatomy of financial sector reform

The Budget speech of 1991 changed the tone of reforms, but in the decades since, the pace has been more driven by scams and crises than by necessity, argues Rajrishi Singhal in his book

Slip, Stitch and Stumble: The Untold Story of India’s Financial Sector Reforms

Author: Rajrishi Singhal

Publisher: Penguin Business

Pages: 304

Price: Rs 699

When one sees the word “untold” in the title, one would think that this would be some sort of a scoop if it is sensational, or a serious piece of research from classified and archival papers if it is sober. To that extent, the book overpromises and under-delivers. It is a retold story of India’s financial sector reforms.

Rajrishi Singhal is meticulous and organised in his approach to the chronicle. Where there are all-encompassing chapters that set the tone and the