Question

Describe India’s economic situation during 1990-91.

Answer 1

1 fall in agriculture prices

2 food scarity

3 poor people were badly effected

Answer 2

Answer:

India was facing an economic crisis in 1991. The roots of the economic crisis of 1991 are in 1985 when the India facing balance of payment problems and import swelled. At that time India was facing twin deficit (twin deficit means current account short fall and fiscal deficit)-

Explanation:

1. The presentation of public sector was dissatisfied.  

2. The vast deficit in trade balance .

3. Fall down reserves of foreign exchange  

4. High budget deficit  

5. High inflation

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