Much more remains to be done to make life and living better for our urban residents. The earlier these issues are addressed, the better managed our cities will become

Liberalisation: 35 years on...

The real challenge facing the Indian economy now is the restructuring of public institutions and regulatory systems

CPI leader Prakash Karat (File photo)

Karat said at a seminar on '25 years of liberalisation and its experiences' to mark 24th death anniversary of CPM ideologue Makineni Basava Punnaih

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	In 1991, India faced one of the worst economic crises in its history. With foreign exchange reserves nearly exhausted and the country on the brink of default, the government launched sweeping economic reforms that transformed India&rsquo;s economy forever. Why did India liberalise? What led to the balance of payments crisis? How did the Gulf War, the collapse of the Soviet Union, and mounting debt push India to the edge? And how did the reforms introduced by Prime Minister P. V. Narasimha Rao and Finance Minister Manmohan Singh reshape the country&rsquo;s future? Watch this video to understand the story behind India&rsquo;s 1991 economic liberalisation and why, 35 years later, it remains one of the most defining moments in the nation&rsquo;s economic history.</div>

Page 3 - Liberalisation

M Ramachandran: Urban reform in the liberalisation era

Nitin Desai: Beyond liberalisation

Liberalisation had negative impact on Indian economy: Prakash Karat