Economy of India
For most of India's independent history, it had strict government controls in many areas such as telecommunications (communication over long distances), banking and foreign direct investment. In 1967 70% of the people earned less than 150 rupees a month. Since the early 1990s, India has slowly opened up its markets by reducing government control on foreign trade and investment. This was started by Manmohan Singh under the leadership of P. V. Narasimha Rao. From then, the Indian Economy grew at a rapid pace.