Post 1990s economic reforms, the Indian economy survived two major global crises — the ‘East Asian crisis’ of the 1990s and the American crisis that came to be known as the ‘global meltdown’. Successive governments in India attributed the Indian economic stability to strong pragmatics.
Today, as India’s economic fundamentals seem strong, there are issues related to the crashing global crude oil prices that affect end consumer. This is said to be among the contributing factors for India losing even more on the exports front.
Despite the successful ‘Make in India’ programme, which is aimed at reviving the primacy of the manufacturing sector, much of India’s current economic problems are attributed to the non-passage of legislative measures like the Land Bill and the GST Bill in Parliament. The reality of the situation may, or may not be the same — and could continue to be influenced by global economic trends, about which no clear picture is available.
Dr. S. Narayan, IAS (retd), will lead the discussion.
Dr. Narayan is a veteran civil servant who retired as the Revenue Secretary to the Government of India. Later, he became the Economic Advisor to Prime Minister Atal Bihari Vajpayee. He closely monitors the Indian economy and global economic contexts, policies and performances.
