Harking back to 1991. Every large reform today is compared to 1991. I decided to go back and read how it was covered in 1991. “One is whether the tentative free-market reforms undertaken by Rao's Congress Party government will prove bold and courageous enough” #1991Reforms
“to rescue the country from rising double-digit inflation, smothering debt & shrinking economic growth. The second is whether India's foreign policy is hindering these capitalist reforms by continuing to project the old, 3rd World-leftist ideas that guided Delhi during Cold War”
“Leftists have dug in their heels in defense of country's traditional socialist ideology. Labor unionists, socialists, communist politicians accuse Rao of selling out to rapacious Western capitalists and mortgaging country's future to the IMFand the World Bank.” Seems like 2020
China surprisingly had positive coverage. “Since inheriting an almost non-performing economy in mid-1991, Mr Rao and Mr Singh have engineered an economic revolution, while cautiously treading a middle path in reversing the socialist ways.” https://www.scmp.com/article/84846/rao-sculpts-economic-renaissance
Manmohan Singh’s historic 1991 budget speech. #1991Reforms https://www.indiabudget.gov.in/doc/bspeech/bs199192.pdf
Bombay Club led by Rahul Bajaj “India’s most important businessmen got together and discussed ways and means to stall liberalisation. This protectionist lobby, also known as the Bombay Club, met at the Belvedere in Oberoi hotel in Mumbai. #1991Reforms
“They struck at the very heart of what the P.V. Narasimha Rao government was trying to do—encourage Indian industrialists to compete with foreign firms in local market. Lalit Thapar, Nusli Wadia Hari Shankar Singhania, Jamshed Godrej, M.V. Arunachalam, C.K. Birla and Bharat Ram”
“But those meetings did take place and their agenda really was stalling or slowing reforms” says Sucheta Dalal. She says Bajaj didn’t attend the 1st mtg—it was later at a cii meet that Bajaj confessed openly to supporting the Bombay grouping.” #1991Reforms https://www.outlookindia.com/magazine/story/the-home-alone-boys/269748
Am trying to find more India media coverage. If anybody finds any article around 1991-1999, on the 1991Reforms, do share. It is useful to read how history is covered in real time, before it is air brushed and white washed by survivors and this with selective memories #1991Reforms
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