Chakravarthi Rangarajan on Monetary Policy After Liberalization
Ideas of India
The Success of the Reforms in the Indian Economy
The management of the external sector was a success story of the reforms. Immediately after we went ahead, reduced the tariffs and as much of the quantitative controls as possible. And then opened up the opportunities for inflow of funds into the country. Even if there is a current account deficit, meeting that deficit will not be a problem. So long as we put up or we build up an economy which is attractive to foreign investment.
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