What led the P V Narasimha Rao government to bite the reforms bullet in 1991?   Like all major economic upheavals, the origins of the one in 1991 have to be traced back in time. In the 1980s, Mrs (Indira) Gandhi was persuaded that borrowings, if purposefully used, would enhance public goods and bump up the growth rate, which was then somewhat less than 6 per cent. This, obviously, resulted in fiscal profligacy.   In 1985, when I was serving in the Indian Embassy in Japan as Minister (Economic and Commerce)… I received instructions from the finance ministry to…