October 9, 2024

Setting the Stage Launched in July 2015, the Digital India Initiative represents a transformative effort aimed at transitioning India into a digitally empowered society and knowledge economy. This ambitious program aligns with India’s broader aspirations for technological leadership, aiming to harness digital technologies to foster inclusive growth, enhance governance, and drive economic development. By focusing

India’s Economic Crisis and the 1991 IMF Bailout By 1991, India was teetering on the edge of financial collapse. Foreign reserves had dwindled below $1 billion—barely enough to cover two weeks of imports. Inflation spiked to 17%, fiscal deficits exceeded 8.5% of GDP, and the government faced mounting debt. In a desperate bid to avert

The Calm Before the Storm The lead-up to the 2008 crisis was characterized by a booming U.S. housing market, driven by cheap credit and deregulation. Between 1997 and 2006, home prices skyrocketed by nearly 124%. Banks, lured by high returns, issued risky subprime loans to underqualified borrowers, confident that housing prices would continue to rise.