That’s not because Modi is afraid of bold initiatives or lacks the political capital to see them through; his popularity remains unmatched, as does his flair for the dramatic gesture. The real issue is that his government and the Indian bureaucracy, unlike in 1991, aren’t set up to develop a consensus behind liberalizing reforms. It’s important to remember that the 1991 reforms didn’t come out of the blue, purely in response to the crisis. They had been fermenting for more than a decade, prompted in part by the success of India’s more open Asian neighbors. By 1991, after years of consultation and debate, they were ready to be implemented under pressure of the crisis.

Source: Mint July 24, 2021 00:56 UTC