what policies government of india adopted for the 1991 economic crisis?
Answers
Answer:
⭐The Indian state has been more penetrated by social actors than many East and Southeast Asian states. Unlike China, India could neither abolish private enterprise nor could it embrace globalization with the same speed and ferocity. Both complete state-driven nationalization and state-driven globalization would demand a state, which would have much greater command over interest groups like industrialists, farmers and trade unions. Policies favoring economic growth and development in India needed to evolve gradually after building a social consensus on those policies. This is a model of development driven by a relationship between the state and society, where the power of the state, even in its commanding moments, was moderated by the power of social actors.