Economic Liberalization and Its Discontents

Zoya Hasan

in Congress after Indira

Published in print October 2012 | ISBN: 9780195685978
Published online January 2013 | e-ISBN: 9780199082216 | DOI:
Economic Liberalization and Its Discontents

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This chapter recounts the economic crises and political processes that spurred a dramatic change of economic policy, which constitutes a watershed in India’s economic history. It is concerned with the degree to which it was induced by policy choices of political leaders acting in response to a changing domestic and international environment, and by structural determinants. It is essentially an attempt to look at the broader question of the politics of economic liberalization. The chapter also tries to understand the changing role of the political elite and the continuities and discontinuities in economic policy from Rajiv Gandhi to Rao. Liberalization provoked popular discontent, yet it continued to get the full backing of the Congress because the political alliance of powerful groups prevailed over opponents of liberalization. This underlined the changed policy priorities of the Congress leadership.

Keywords: economic liberalization; economic crises; political processes; popular discontent; political elite; Rajiv Gandhi; P.V. Narasimha Rao

Chapter.  10131 words. 

Subjects: Indian Politics

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