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| Details |
| Case Code: CLIBE021 |
| Case Length: 3 pages |
| Period: -- |
| Pub Date: 2005 |
| Teaching Note: Not Available |
| Subject :Business Environment |
| Price:Rs.50 |
| Organization :-- |
| Industry :-- |
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Progress of Economic Reforms in India * |
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| The caselet follows the progress of economic reforms in India. It discusses the attempts made by different governments to strengthen economic reforms in India. The caselet describes the stumbling blocks in the process of reforms and highlights the problems faced by different governments in implementing the reforms. |
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Issues: |
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- Economic reforms in India.
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- Role of Congress Party in initiating economic reforms.
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- The progress of economic reforms in India.
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- Opposition to privatization.
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| Introduction |
India was a closed economy until 1991. The Indian currency (rupee) was nonconvertible, and import licensing and high tariffs on imported goods restricted the entry of foreign goods into the Indian market. Many political parties were opposed to the tentative economic reforms proposed by the late Rajiv Gandhi in the late 1980s.
Therefore, during the pre-liberalization period, the Indian economy relied more on its internal market for its development. The economic reforms were given shape by the late P.V. Narasimha Rao (Rao), who became Prime Minister after the Indian National Congress (Congress) won the elections in 1991. ..
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| Questions |
1. Discuss the extent of political influence on the economic reforms in India.
2. Comment on the role of Congress Party with regard to economic reforms in India.
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Keywords |
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import licensing, economic reforms, foreign exchange reserves, license-permit-quota regime, World Bank, International Monetary Fund, United Front Coalition, foreign direct investments, hire-and-fire policies, privatization, public sector units.
* This caselet is intended for use only in class discussions.
** More comprehensive case studies are priced at Rs.200 to Rs.700 (US $5 to US
$16) per copy.
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