According to an article on India in the Economist: "When the government announced its package of measures last September (2012), optimists hoped it was a moment to rival 1991." The article further states: "It is now clear that deep reforms are not going to happen in the near future, reflecting . . . a tricky political climate."
a. Why is 1991 an important date in the history of India's economy?
b. Why does India have a "tricky political climate"?
c. The article also states that "the hope is that India's politicians will finally be more serious about fighting graft and enacting reform." What is graft? While businesspeople might be annoyed to pay bribes, why would graft affect economic growth in India?