Economic Liberalisation of the 1990s-Stabilisation and Structural Aspects and Sustainability of Results

This paper, first, traces the main components of the economic reform process in India of the early 1990s, both in its stabilisation and structural aspects; second, points to the inadequacy and the non-sustainability of the measures that were undertaken; and third, by way of proposing some explanations based on political economy aspects, provides ground for the overall direction in which India needs to move to revitalise its reform process and to sustain it.