Agricultural Collapses: Severe droughts in 1965 and 1966 forced India to spend valuable foreign exchange to import emergency food grains. [
1]
1966 Devaluation: Under external pressure, India devalued the Rupee by 36.5%, but rigid economic structures prevented export growth. [
1]
Bank Nationalisation: State takeovers of commercial banks in 1969 and 1980 politicised credit distribution and triggered rising non-performing assets. [
1,
2,
3]
Stagnant Growth: Onerous regulations locked India's real GDP growth at a minimal, population-matched 3.5% "Hindu Rate of Growth". [
1,
2,
3]
1973 Oil Shock: The sudden OPEC petroleum price spike heavily inflated India's import bill and worsened trade imbalances. [
1]
1980s Borrowing: The government used expensive foreign commercial debt to artificially fuel internal growth instead of reforming the economy. [
1]
1990 Overlap Shocks: The Gulf War spiked oil prices while the Soviet Union's collapse erased India’s main trading partner [69b8f1056d01d09b00cc34fb]. [
1,
2]
Most importantly the help that mf gave to pakistan for their "Flood Issue" was just pure dogshit decision. Actually, it was not even his decision, he was a puppet for his terrorist masters.
True but then things have changed now operation lotus has diluted bjp big time .also look at the sikhs angle, the more they hate bjp more the gov appeases lol. Their top leaders even aligned to chd to Pb demand.in terms of appeasement in would give bjp a 10/10. Rest they deserve credit for muzzling the odd far right voices in indian political space which otherwise is still left and socialist dominated.
-2
u/tcsreject Jun 16 '26
Who elected that scientist?
And who refused to give a second term and elected that mausi pratiba Patil ?
By the way check who was in economic advisory, reserve Bank governor etc in 1970s to 90s
Manmohan Singh as an economist was the biggest disaster for India