- Rajesh
Tyagi/ 26.6.2015
The
imposition of emergency was a response of the Indian ruling bourgeoisie to the acute
global economic crisis that resulted in breakdown of the world economy at the
start of the seventh decade of the last century. Withdrawal of gold backing by the US
to the dollar, was the pinnacle of this economic breakdown. Huge escalation in
prices of essential commodities, was precipitating the crisis among the poor
masses, already beset by rising social inequality resulting into huge gap
between living standards of the rich and the poor.