Facing default, Prime Minister P.V. Narasimha Rao and Finance Minister Manmohan Singh began a reform program of reducing tariffs, opening the economy to competition and foreign investment, and slashing bureaucracy.
针对违约,总理P.V. 纳拉辛哈·拉奥和财政部长曼莫汉·辛格开始了一项降低关税、向竞争和外国投资开放经济、削减官僚机构的改革计划。