Public Policy and the Financial System-A Dilemma of Two Cultures

Public Policy and the Financial System A Dilemma of Two Cultures N A Mujumdar The financial sector reforms introduced as part of economic liberalisation have done the economy more harm than good. Any reforms that we introduce must he judged by the test of their relevance to the specific Indian socio-economic milieu, and the 1991-96 reforms fail this test. The initiatives taken by the United Front government appear to appreciate this point.