Sarma, Atul; Gupta, Manish - International Center for Public Policy, Andrew Young … - 2002
The year 1991-92 was one of the toughest years for the Indian economy. All the macroeconomic indicators became adverse. The overall economic growth slumped to a mere 1.1%. The gross fiscal deficit stood at 8 % of the GDP and the revenue deficit on the current account at 3.5 % in 1990-91. Prices...