pushing the paradigm change

But India in 1991 was as open or closed as Japan, the US and China. The openness of an economy is measured by the share of its exports and imports in the GDP and for all these large economies, it ranged between 6% and 9%, similar to India’s. So, this argument was just a ploy for pushing the paradigm change in policies. Following marketisation, the stock market became the yardstick of the success of economic policies. Post-NEP, when the economy was tanking, the stock market was booming. When questioned in parliament, Singh stated, “I won’t lose my sleep over the stock market”. For Harshad Mehta, the big bull, this was the cue to continue his stock market manipulations. Singh also met Mehta in the finance ministry in February 1992 and agreed to exempt the holding of shares from wealth tax, further fuelling speculation. สล็อต เว็บตรง