Economic Review - 1995. Kerala

Abstract

From Chapt. 1 General Review: Since the middle of 1991, the Government of India initiated a number of reform measures in a wide range of areas to move the economy into an incentive regime more conducive to rapid economic development. These measures, which were necessitated by the macro economic crisis which came in the early ninetees, have fundamentally altered the country's development strategy. Four years ago, India's internal and external imbalances had reached crisis proportions. The rate of economic growth had fallen to less than one per cent. Inflation rate had touched a level as high as 17 per cent.