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1991 PROJECT
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In 1977, H. M. Patel’s maiden budget speech marks a transformative moment in India’s economic history, with policy shifting toward a more market-based orientation.
In 1975, B. R. Shenoy asserts that interventionism is the root cause of corruption.
In 1975, Bhagwati and Srinivasan’s Foreign Trade Regimes and Economic Development: India examines India’s economic development vis-à-vis its trade policies.
In 1971, Sudha Shenoy’s India: Poverty or Progress? is published, voicing a libertarian critique of India’s economic policies.
In 1971, Peter Bauer’s Dissent on Development contributes new ideas to development economics and has wide-ranging implications for growing nations including India.
In 1970, Bhagwati and Desai publish India: Planning for Industrialisation, whose insights foreshadowed the 1991 economic reforms.
In 1964, Manmohan Singh writes his doctoral thesis under Ian D. Little, in which he challenges import substitution and argues for free trade.
In 1959, C. Rajagopalachari forms the Swatantra Party, which would propound a market-oriented economy.
In 1957, Gunnar Myrdal publishes Economic Theory and Underdeveloped Regions.
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The 1991 Project
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