Published in 2020, Backstage: The Story Behind India’s High Growth Years, by Montek Singh Ahluwalia, offers an insider’s account of India’s economic transformation during its most dynamic period of growth, following the economic reforms of 1991. Ahluwalia, a key architect of the economic reforms and a prominent policymaker, provides an engaging narrative that combines personal experiences with a deep analysis of economic policies. At the time of liberalization, he authored the M Document, which served as a blueprint for the reforms.

The book delves into the 1980s and ’90s, when India underwent significant economic liberalization and thereafter experienced unprecedented growth. Ahluwalia, who played a crucial role as a close adviser to several prime ministers through postings in the Prime Minister’s Office, Ministry of Commerce, and Ministry of Finance (and later as the deputy chair of the Planning Commission), sheds light on the policy decisions and strategies that spurred this growth. He offers a behind-the-scenes look at the challenges, debates, and political dynamics that shaped the reforms.

Ahluwalia’s narrative is rich with anecdotes and insights into the workings of the Indian government as well as its interactions with international financial institutions. He discusses critical issues such as fiscal policy and infrastructure development, providing a balanced perspective on the successes and shortcomings of the reform period.

Ahluwalia’s firsthand account offers valuable lessons on policy formulation and implementation, making it a significant contribution to the literature on India’s economic journey.