How Manmohan Singh saved India in 1991 | Indian Economic Crisis

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00:00 Introduction
00:33 Era of License Raj
01:57 Causes of 1991 Economic Crisis
04:05 How Manmohan Singh solved the economic crisis
04:50 Economic reforms of 1991
06:25 Effect of 1991 reforms on common man

in 1991, India faces a huge economic crisis. Only 3 weeks worth of foreign exchange was left in India, and it was almost going bankrupt. Many events led to that situtation, starting from slow economic growth, to gulf war, USSR disintegration, and Rajiv Gandhi Assassination. But in 1991, the new PV Narsimha Rao government made some reforms in the leadership of Manmohan Singh as Finance Minister, and Indian economy took a U turn and started rising again. 1991 economic reforms are still prevalant.
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