Trade Trend

Essay specific features

 

Issue:

Science

 

Written by:

Linda W

 

Date added:

July 22, 2014

 

Level:

University

 

Grade:

A

 

No of pages / words:

8 / 2072

 

Was viewed:

2116 times

 

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Essay content:

The privatization of publicly owned industries and the opening up of certain sectors to private and foreign interests has proceeded slowly amid political debate. In the late 80s, the government led by Rajiv Gandhi eased restrictions on capacity expansion for incumbents, removed price controls and reduced corporate taxes...
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While this increased the rate of growth, it also led to high fiscal deficits and a worsening current account. The collapse of the Soviet Union, which was India's major trading partner, and the first Gulf War, which caused a spike in oil prices, caused a major balance-of-payments crisis for India, which found itself facing the prospect of defaulting on its loans...
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