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The deregulation of the Indian economy, which started in the 1980s, received an impetus in 1991. While the balance of payments crisis may have provided the immediate trigger, there were structural and deeper long-term reasons underlying a paradigm shift of the economy in 1991. thus the period 1992-2004 marks a decisive break with the past trend of macroeconomic growth. Most development indicators are favourable with foreign exchange reserves rising above US$ 130 ...
Economic growth is positively related to the stage of financial system suffered from ‘financial repression’. Post-1991, the liberalization process attempted to make credit institutions organizationally strong, financially viable the operationally efficient by well-sequenced reforms. These reforms led to a heightened consciousness of ownership and capital structure, enhanced competition, increased autonomy, technological upgradation and performance change. ...
India has entered the second stage of financial sector development, where market forces are helping in resources allocation and efficient price discovery process. The harmonization of regulatory institutions and devising of new financial architecture is necessary to enhance the resilience of India's financial sector and reduce the fragility of some financial institutions. High exposure in government securities, government guaranteed loans, improper valuation of ...