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1991 Liberalisation Crushed Workers

The latest government data show that the 1991 economic reforms increased inequality dramatically.

The latest government data show that the 1991 economic reforms increased inequality dramatically. Factory workers, whose real wages increased at 2.3% in the 1980s, saw a mere 0.5% annual growth in their wages post-liberalisation. The share of wages in terms of value added dropped from 39% in the 1980s to just 19% in the post-reforms phase. That means the reforms not only made India’s economy more unequal but also made things worse for the working class.

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