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Symbols vs solutions: How India's past governments handled economic crises

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Business Standard

From Lal Bahadur Shastri’s rationing measures during the 1965 food crisis to Manmohan Singh-era spending cuts after the global financial meltdown, India has seen governments take tough economic decisions in moments of crisis. But Prime Minister Narendra Modi’s latest austerity appeal has sparked a different debate: are symbolic appeals enough when economic pressures are rising? Here’s a look at how India handled crises then, and how it is responding now.

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