- The 1991 crisis was primarily a balance of payments crisis. - Key indicators were low reserves, high fiscal deficit, and difficulty in servicing external debt.
Economic crisis of 1991 was characterised by a. Reduced foreign exchange reserves b. Rolling over of Indian foreign debt by international creditors c. Increase in fiscal deficit d. Sale of gold from reserves
Asked in MPSC CS Prelims 2016 · Topic: Nature of Indian Economy (Evolution from Planned to Market-Oriented Economy)
More Economic Development questions
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