We need disruptive action
India, May 15 -- Several developments in various parts of the world today merit action which deviates from prevailing trends. Often, these are the result of some crisis - anticipated or sudden - and require substantial correction of trends, which may lead to unfavourable or disastrous results. A good example of this is the substantial shift in policies and institutions that were implemented in 1991 when PV Narasimha Rao was the Prime Minister and gave Manmohan Singh a free hand and brought him in as the Finance Minister to bring about major changes, just as India's economy was heading towards a catastrophe. That the unprecedented reform undertaken saved the situation and moved India to a growth path, which was healthy and robust, is now a...
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