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INTERNATIONAL JOURNAL OF CREATIVE RESEARCH THOUGHTS - IJCRT (IJCRT.ORG)
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ISSN Approved Journal No: 2320-2882 | Impact factor: 7.97 | ESTD Year: 2013
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Paper Title
A CONTRARY VIEW ON INDIAN ECONOMIC CRISIS OF 1991
Authors
Ashutosh Kolte, Biagio Simonetti
Keywords
Balance of Payment, Causes of Currency crisis of 1991, Foreign Exchange Reserves, India USSR relations, India’s Foreign Trade, Gulf Crisis.
Abstract
India was passing through difficult times on various fronts like Economic, Political and External sector in late 1980’s. Rupee was
pegged with a basket of currencies and exchange rate of rupee with foreign currencies was highly regulated by RBI. Rupee was
devaluated several times on the guidelines of IMF in 1990 and 1991. As it was always earlier, India’s current account balance was
negative and country was facing Balance of Payment difficulties in 1991. India’s foreign exchange reserves had depleted and IMF
and world community was not willing to help India unless it brings in economic reforms. This situation though emerged in few
months; economists consider various factors responsible for the situation, which were results of policies of government and
chronological events occurred for several years. In this paper author will review the available literature and will present his contrary
view on the said economic crisis.
IJCRT's Publication Details
Unique Identification Number - IJCRT1802336
Paper ID - 182092
Page Number(s) - 54-64
Pubished in - Volume 6 | Issue 1 | February 2018
DOI (Digital Object Identifier) - http://doi.one/10.1729/IJCRT.17252
Publisher Name - IJCRT | www.ijcrt.org | ISSN : 2320-2882
E-ISSN Number - 2320-2882
Cite this article
Ashutosh Kolte, Biagio Simonetti, "A CONTRARY VIEW ON INDIAN ECONOMIC CRISIS OF 1991", International Journal of Creative Research Thoughts (IJCRT), ISSN:2320-2882, Volume.6, Issue 1, pp.54-64, February 2018, Available at :http://www.ijcrt.org/papers/IJCRT1802336.pdf
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ISSN: 2320-2882 Impact Factor: 7.97 and ISSN APPROVED Journal Starting Year (ESTD) : 2013
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ISSN: 2320-2882 Impact Factor: 7.97 and ISSN APPROVED Journal Starting Year (ESTD) : 2013
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