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A Domestic Demand – Supply based economic policy instead of exports oriented policies during this pre-liberalization period resulted in Constant Currency (inflation adjusted) cumulative growth rates of 151% in seven years, one and half times higher than the cumulative growth rate of the 31 years earlier, and 25% higher than the cumulative ...
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Owned by The Times Group, The Economic Times began publication in 1961 and it is sold in all major cities in India. As of 2023, it is the world's second-most widely read English-language business newspaper , after The Wall Street Journal , [ 4 ] with a readership of over 900,000.
Just a few years before the Independence of India, the Reserve Bank of India Act, 1934 was passed which effectively repealed The Paper Currency Act, 1861. From now onwards, the Reserve Bank of India became the sole issuer of banknotes in India.
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The Paper Currency Act, 1861 gave the Government of India the exclusive right to print and circulate banknotes and thereby abolishes the printing and circulation of banknotes by the private Presidency Banks. Until the establishment of the Reserve Bank of India on 1 April 1935, the Government of India continued to print and issue banknotes. [2] [3]