CURRENT AFFAIRS

Detailed explanation-1: -Detailed Solution. Bimal Jalan (born 17 August 1941) is a former Governor of Reserve Bank of India. He is the author of a book named “India’s Economic Crisis.

Detailed explanation-2: -Father of Indian Economic Planning is Sir M. Vishweshwaraiah. Sir M Visvesvaraya, popularly known as Sir MV, was an engineer, statesman, and a scholar.

Detailed explanation-3: -In the 1980s, India had borrowed heavily from international lenders, in part to finance infrastructure projects and industrialization. However, by 1991, the country was facing a severe balance of payments crisis, as it was unable to service its debt and was running out of foreign exchange reserves.