Abhijit Bhattacharyya | Currency Stability Basis Of A Nation’s Economy
Published on: June 25, 2026, 11:23 p.m. | Source: Deccan Chronicle
India’s first woman PM got deep into an all-round mess of two wars (the 1962 treachery by the Chinese and the aggression of Pakistani dictator Ayub Khan in 1965). A combination of drought, an adverse trade balance, a mounting current account deficit and acute foreign exchange crisis led to India facing potential economic collapse. The nail in coffin was due to the stringent loan/aid conditions imposed by the World Bank and International Monetary Fund
