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What caused economic crisis in India in the early 1990s?

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प्रश्न

What caused economic crisis in India in the early 1990s?

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उत्तर

In India, the period after 1980-81 was marked by several balance of payment difficulties mainly due to a hike in oil price and Gulf war in 1990-91, and hostilities in West Asia. India lost credit in the international market. This caused the economic crisis.

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Trade and Traders in South India Historical Perspective
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