
Vinay Sitapati on Liberalization and Narasimha Rao
Ideas of India
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Was It the I M F, Influence and Arm Twisting That Pushed India to Reform?
i would say that the i m f crisis was a genuine r is for india. Narsimara and manmonsing and ean varma chose to use this particular crisis to implement long browed ideas, and they implemented it much after the crisis had abated. And as i pointed out, even after 92, when the indian foreign exchange reserves have come back to normal, we can easily pay back the im f. Reforms still continue all the way to 19 95, right?
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