1991 reforms could have begun in 1981, but not during Rajaji’s time, says Chidambaram
The former Union Minister stated that before 1981, capitalist countries claimed to support an open market economy, but the absence of a rules-based global order prevented poor and middle-income countries from doing the same
Former Union Minister P. Chidambaram stated that India could have initiated economic reforms a decade earlier than 1991, but "certainly not" during the era of C. Rajagopalachari, the founder of the Swatantra Party and the inaugural governor-general of independent India. When asked if the nation would have fared better by adhering to Rajagopalachari's proposal of liberalizing the economy in the late 1950s through the early 1970s, Chidambaram, who presented nine Union Budgets, affirmed that the economic reforms could have commenced in 1981.
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