Indian economy in 1990s

Abstract

There is silver lining in the dark clouds at the horizon for the Indian economy. In the short term India has to sacrifice little growth in the fiscal year 1991-92 and in all likelihood it would not be very good in 1992-93. In the short run, the external economic environment is not favourable especially prospects of foreign trade in immediate future is not favourable due to slow down of the world economy. The budget success depends on restraining the inflationary pressure, boosting exports and raising productivity. India needs a bit of luck. A couple of goods monsoons and low international price of oil and co-operation form the organised labour will be very helpful. If India uses next tow years constructively there is no doubt that Indian economy would deliver a vibrant and an exuberant nation which would surprise the world-and itself.