India's economic crisis in 1991 may not be entirely similar to the problems the Indian economy is facing now.
But it would be tempting to compare the top policymakers in charge of the economy then with those at the helm now.
First, let us look at the common players in key policy-making positions then and now: Manmohan Singh, who was then the finance minister, is now the prime minister; P Chidambaram - commerce minister then and now the finance minister; C Rangarajan - deputy governor of the Reserve Bank of India (RBI) and a little later RBI governor then and now the chairman of the prime minister's economic advisory council and; Montek Singh Ahluwalia, who was then secretary in the commerce ministry and later in the finance ministry and is now the deputy chairman of the Planning Commission.
Text: AK Bhattacharya, Business Standard
Image: Manmohan Singh, the Finance minister who unleashed big-bang reforms under Prime Minister PV Narasimha Rao's able stewardship.