Question

what is economic crisisof 1991​

Answer 1

Answer:

1991 Indian economic crisis.

The crisis led to the liberalisation of the Indian economy, as one of the conditions stipulated in the World Bank loan (structural reform), requiring India to open itself up to participation from foreign entities in its industries, including state owned enterprises.

Answer 2

Answer:

The 1991 Indian economic crisis had its roots in 1985 when India began having balance of payments problems as imports swelled, leaving the country in a twin deficit: the Indian trade balance was in deficit at a time when the government was running on a large fiscal deficit.

overvaluation; the current account deficit, and investor confidence played significant role in the sharp exchange rate depreciation. ... Precipitated by the Gulf War, India's oil import bill swelled, exports slumped, credit dried up, and investors took their money out.

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