Asian Review

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Two decades ago India's then finance minister and current prime minister Dr. Manmohan Singh set India on a new course of liberalization, privatization and globalization. This paper argues that the economic reform of 1991 was based on the concept of progress in the philosophy of neoliberalism, realized through the typical structural adjustment imposed by the World Bank and IMF, combined with Manmohan Singh's own vision of reform. This paper also evaluates the effects of neoliberal reform on food security in India. Despite high economic growth as measured by traditional GDP, food insecurity in India has shown little or no signs of improvement in the past two decades. ...[India] is all set to make its biggest splash ever, declaring its coming of age as an economic power ready to engage with the world on its terms, taking its domestic mantra of inclusive growth to a recession-scarred world. (Santosh Menon and Shaili Chopra, The Economic Times, 24 January 2011)



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