More Stories to Read

by: Fakhri Motiwala
This narrative details experiences of working in the highly controlled domain of imports and exports before 1991. Imports and exports were governed by the archaic Imports and Exports Control Act (1947), a law that was obsolete and unresponsive to th...
by: Devender Singh Wadhwa
This narrative discusses the impact of nationalization of banks in 1969. The government, under Indira Gandhi, nationalized fourteen leading private commercial banks via an ordinance in July 1969. Though the idea had been raised in a previous All Ind...
by: Sanjeev Gandhi
This narrative highlights two key areas pertaining to liberalization. Mr. Sanjay Gandhi recounts the difficulty in obtaining kerosene, due to stringent quotas and limits on distribution. The ‘kerosene license’ referenced to in the story, is a documen...
by: Prof. Niraja Gopal Jayal
Looking back upon everyday urban middle-class life in India before 1991 –that is the only kind of life I can write about from personal experience – the first words that come to mind are scarcity and frugality. These words carry negative connotations...
by: Raghav Bahl
Steel production began in the private sector in British-ruled India when Tisco was set up by the Tatas in Jamshedpur in 1907. But independent India aborted that incipient revolution. Unfortunately, the industrial policy resolutions of 1948 and 1956 r...
by: SS Dhanoa
In 1981-82, I was on deputation at International Crops, the Research Institute in Hyderabad (I was getting my salary in dollars there). It was the only International agricultural Institute in India at that time. International Agricultural Research In...
by: Gyanendra Bartaria
When we look at the economy of the India before1990, our financial problems were in plain sight and fairly simple to understand. Firstly, there was the problem of rising unemployment and a low rate of growth. Secondly, we had a huge budget deficit, a...
by: R C Jain
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...
by: Anil Sharma
One pertinent development which occurred in 1991 was the advent of Star TV. I think it was the first one to come. Today people like me who are serving in a particular force are not very much affected but the kids who are growing up. They have a much...
by: SL Beriwal
I am a graduate from SPA (School of Planning and Architecture), New Delhi. When I applied for the architecture program at SPA, there were only 2,000 applicants, today there are close to 2,00,000. Upon graduating in '85, I chose to work for the privat...
by: Raghav Bahl
Draconian controls on the cement industry were first clamped during the Second World War, across distribution channels, purchase prices and quotas for open market sales. It was amusing, even tragic, to see the amount of tinkering that the government...
by: Pushpa Bhatt
I am Pushpa Bhatt from Lucknow. I have taught in the field of education since 30 years now. Before 1991 we didn't know much about banking. We would usually get a pocket money varying from 5 - 25 paise depending on the occasion and Re 1 when our fathe...
by: Shashi Tharoor
In a series of newspaper articles...right-of-center congressman Vasant Sathe had pointed out that the public-sector steel industry in India employed ten times as many people to produce half as much steel as the South Koreans (according to 1986 figure...
by: Shashi Tharoor
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...
by: Shashi Tharoor
Senator Daniel Patrick Moynihan, known for his outspoken candor when he was the U.S. ambassador in New Delhi in the mid-1970s, used to enjoy comparing the port cities of Singapore, Rangoon and Calcutta. In the late 1940s they were much alike: bustlin...
by: Anil Pandey
Before 1991, my childhood was spent in a small town, Azamgarh, Uttar Pradesh (UP), popular these days due to Dawood Ibrahim, Haji Mastan and Abu Salim. I came to Delhi during the 90s, around 1991. When I compare life before and after 1991, I feel tha...
by: Former Prime Minister Narasimha Rao's Speech
When I spoke to you last, I promised quick and bold measures to restore our sick economy to health. We have taken the first step to fulfil that promise. This is the beginning. A further set of far reaching changes and reforms is on the way.  For the...
by: Pranab Mukherjee
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...