1991 reforms could have begun in 1981, but not during Rajaji’s time, says Chidambaram
Former Union Minister P. Chidambaram stated that India could have initiated economic reforms as early as 1981, but lacked the necessary political environment. He argued that earlier attempts were hindered by internal political opposition and a lack of global economic frameworks.
Why it matters
This provides historical context and political analysis regarding India's economic liberalization journey and the challenges of policy reform.
India could have carried out economic reforms 10 years before 1991, but “certainly not” during the time of Swatantra Party’s founder C. Rajagopalachari, the first and only Indian governor-general of independent India, former Union Minister P. Chidambaram told The Hindu 360 , the Tamil YouTube channel of The Hindu.
Asked whether the country would have been better off had it followed Rajagopalachari’s prescription of opening up the economy in the late 1950s through the early 1970s, Mr. Chidambaram, who presented nine Union Budgets, acknowledged that the economic reforms could have begun in 1981.
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