In November 1981, Finance Minister Venkataraman entered into negotiations with the International Monetary Fund (IMF) and borrowed a hefty SDR 5 billion to avert an impending balance of payments crisis. This was, till then, the highest amount a single...
As handouts drained the budget and restrictions hampered growth, there was an almost culpable lack of attention to the country's infrastructure (with the solitary exception of the railways, whose development has been a rare triumph). The country's ov...
The public was unaware of the corrupt practices before 1991 . There have been many changes since then. Today you’ll find a washing machine and a car in every household. There has been huge employment generation which has benefited the public financia...
