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India supercharged its economy 30 years ago. Covid unraveled it in months


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Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty, fueling one of the biggest wealth creations in history.
Then came the world’s fastest coronavirus surge which left overflowing hospitals turning away the dying and crematorium smoke darkening city skies.
Years, and perhaps decades, of progress have been unwound in months, as many Indians who had clawed their way out of poverty face grim job prospects and carry heavy debt loads wracked up to get themselves and loved ones through the pandemic. The devastation has highlighted just how much poor health care and infrastructure often neglected in the boom after liberalization are holding back the nation and its people. ....

United Kingdom , Republic Of , City Of , Eswar Prasad , Duvvuri Subbarao , Jim Oneill , Manmohan Singh , Jean Dreze , Indira Rajaraman , Mukesh Ambani , Arvind Subramanian , Narendra Modi , Sanjeev Sanyal , India Global Forum On , International Monetary Fund , Goldman Sachs Group Inc , Credit Suisse Group , Azim Premji University , Goldman Sachs , World Health , International Labor Organization , Cornell University , Pew Research Institute , Brown University , Serum Institute Of India , Delhi University ,

Covid undoes gains India made after supercharging economy 30 years ago


Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty, fueling one of the biggest wealth creations in history.
Then came the world’s fastest coronavirus surge which left overflowing hospitals turning away the dying and crematorium smoke darkening city skies.
Years, and perhaps decades, of progress have been unwound in months, as many Indians who had clawed their way out of poverty face grim job prospects and carry heavy debt loads wracked up to get themselves and loved ones through the pandemic. The devastation has highlighted just how much poor health care and infrastructure often neglected in the boom after liberalization are holding back the nation and its people. ....

United Kingdom , Republic Of , City Of , Eswar Prasad , Duvvuri Subbarao , Jim Oneill , Manmohan Singh , Jean Dreze , Indira Rajaraman , Mukesh Ambani , Gautam Adani , Arvind Subramanian , Narendra Modi , Sanjeev Sanyal , India Global Forum On , International Monetary Fund , Goldman Sachs Group Inc , Credit Suisse Group , Azim Premji University , Goldman Sachs , World Health , International Labor Organization , Cornell University , Pew Research Institute , Brown University , Serum Institute Of India ,

India supercharged its economy 30 years ago. COVID-19 unraveled it in months.


Jul 8, 2021
Thirty years ago, on a summer evening in late July, India liberalized its Soviet-style economy in a transformation that eventually pulled about 300 million out of poverty, fueling one of the biggest wealth creations in history.
Then came the world’s fastest coronavirus surge, which left overflowing hospitals turning away the dying and crematorium smoke darkening city skies.
Years, and perhaps decades, of progress have been unwound in months, as many Indians who had clawed their way out of poverty face grim job prospects and carry heavy debt loads wracked up to get themselves and loved ones through the pandemic. The devastation has highlighted just how much poor health care and infrastructure often neglected in the boom after liberalization are holding back the nation and its people. ....

United Kingdom , Republic Of , City Of , Eswar Prasad , Duvvuri Subbarao , Jim Oneill , Manmohan Singh , Jean Dreze , Indira Rajaraman , Mukesh Ambani , Gautam Adani , Arvind Subramanian , Narendra Modi , Sanjeev Sanyal , India Global Forum On , International Monetary Fund , Goldman Sachs Group Inc , Credit Suisse Group , Azim Premji University , Goldman Sachs , World Health , International Labor Organization , Cornell University , Pew Research Institute , Brown University , Serum Institute Of India ,