Janta dal government in 1977 got selected and turned things around. They believed that India should be a self dependent economy.India also was a closed economy at that time. Assassination of Indira Gandhi , emergency situation , lot of political clinch . read more
The economic crisis came about because of an overlap of political and economic problems, including India's revolving-door Governments in the last two years, with four Prime Ministers and four finance ministers, which led to virtual economic paralysis. read more
As we proceed, we will picturise the inefficiencies of the Indian economy, the consequences arising out of such, and, finally, the changes in economic policies since July 1991 consequent upon grave economic crisis that erupted in the late 1980s and culminated in mid-1991. read more