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A Juggernaut's First Steps? The Future Of Economic Reform In India 

Recorded on April 15, 2003

The Heritage Foundation's Van Andel Center

After instituting a bold economic reform program in 1991, India experienced robust growth throughout most of the 1990s before losing momentum at the end of the decade. India has since posted steady, if not spectacular, growth but Indians are right to be disappointed at the untapped potential of their economy. Many analysts believe that India will not be able to become the regional economic powerhouse it aspires to be without a "second generation" of reforms. New Delhi has taken some positive steps, lowering agricultural subsidies and increasing the pace of privatization, but continues to face major challenges including a cumbersome budget deficit and a tangled tax system. Please join us as Dr. S. Narayan offers his unique perspective on these and other issues affecting the Indian economy.