The India 1991 Crisis marked a turning point in the nation's economy. It was triggered by a severe balance of payments crisis. The government faced mounting debt and dwindling foreign reserves. In response, India implemented sweeping economic reforms. These reforms liberalised the economy and opened it to global markets. The crisis ultimately transformed India's economic landscape and spurred growth.
The Reserve Bank of India (RBI) has increased its domestic gold reserves in recent years. As of September 2024, the RBI holds 854.7 tonnes of gold, with 510.5...