Discover and read the best of Twitter Threads about #GreatIndianRopeTrick
Most recents (1)
There was no optimism in 1991 through 1996 on account of PV Narasimha Rao's reforms. Indian (crony) industry formed 'Bombay Club' to oppose pro-free market reforms. Unions were protesting in the streets. Harshad Mehta was scamming a fake bubble market. Inflation kept shooting.
1n
1n
Congress did not rally behind 1991 reforms. A Congress intellectual now close to Nehru Darbar had floated the line that the reforms would serve India's 'Coca-Cola Class'. Media went to town over undisclosed IMF conditionalities. Congress lost elections in State after State. 2n
To foist the claim that the 1991 reforms "spread optimism and hope across India" is a travesty. Had there been "optimism and hope" then Congress would not have lost the 1996 Lok Sabha election. Such bogus claims can be made because public memory is short. 3n
