Rediff.com« Back to articlePrint this article

25 years of reforms: Then and now, the big changes

July 05, 2016 11:12 IST

India has emerged as one of the fastest-growing economies in the world.

IMAGE: Indian economy has transformed in 25 years. Photograph: Amit Dave/Reuters
 
 

In the early 1990s, the Indian economy was on the verge of a collapse.

Hoping to stem the tide, the government, headed by Prime Minister P V Narasimha Rao, launched a series of wide-ranging reforms.

These reforms, which largely focused on product markets, ended up radically altering the structure of the Indian economy.

Over the next two decades, India emerged as one of the fastest-growing economies in the world, a far cry from the days of languishing at low single - digit growth rates.

As India celebrates the 25th anniversary of that epoch-making moment, take a look at the distance the country has travelled through the lens of key indicators.

                                                  25 years of reforms: The big changes

Source: source image