Only three percent Indians understand economic reforms: poll

NEW DELHI, Jan 26, 2007 (AFP) – India may be registering blistering rates of growth but only three percent of its people understand the economic reforms being implemented and most think they have benefitted only the rich, said a survey published Friday. “Seventy-two percent of Indians were unaware of the economic changes that the country has been going through since 1991” when India launched market reforms, said the survey published in the Hindustan Times.

Sixty-two percent also felt the changes in economic policy benefitted only the rich, said the poll by the New Delhi-based Centre for the Study of Developing Societies for the Hindustan Times and news channel CNN-IBN.
The survey questioned 7,681 people across 19 states of India.

It found that only 28 percent of Indians had heard of economic reforms while “most did not have even a rough idea of the broad directions of the policy changes.”

Despite this lack of awareness of the reforms, 56 percent said India’s economy had improved in the past decade while 46 percent said their family’s economic situation had improved since 1991.

India liberalised its economy in 1991 when Manmohan Singh, who is now India’s prime minister, served as the country’s finance minister.

Sixteen years of