The liberalisation of the Indian economy during the tenure of P V Narasimha Rao in the early nineties was the turning point in the history of post independent India as this did end the ‘license raj’ that had remained for more than four decades and was the root cause of corruption and inefficiency in the government machinery. The process of liberalisation did open the flood gates of decentralization of the public sector and was like an anti cyclone that opened the spiral of red tapism in the country. The change that has brought economic development has also another side to it that cannot be overlooked at all.
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