Making the Economic Transition Smooth

The disastrous foreign exchange situation at the beginning of the nineties led to the government of the day setting out on the road to liberalisation, privatisation and globalisation. Many of the problems the economy has been facing since have arisen from the unthought-out consequences of this turnaround without putting in place the necessary policies and institutions not only to make the transition smooth but also to provide the instruments for preventing or checking the undesirable consequences of unbridled freedom in the economic field.