INTRODUCTION‌

T

he economic reforms initiated in 1991 is now into the 26th year. In this period there was hardly a day that some news, news analysis, write-up or article did not appear in the newspapers regarding the reform process. Several

highly acclaimed books have been authored on India’s economic reforms by some of the best experts of economics from India and abroad. Still students, especially coming from non-economics background, are generally at a loss on the ‘pros’ and ‘cons’ of the reform process.