%A Y.V. Reddy
%T From growing freedom to increasing control
%! From growing freedom to increasing control
%X The Balance of Payments crisis in 1991 prompted economic reforms in India.  The reforms included fiscal stabilisation, according a degree of autonomy in conduct of monetary policy, and deregulation of financial sector. They also included marketisation of government borrowing programme, adoption of global standards of banking regulation and establishment of separate capital market, insurance and pension regulatory bodies.  
%U https://www.thebillionpress.org/columns/economy/growing-freedom-increasing-control-1331