India’s future economic path has been tougher since 1991: Manmohan Singh – Times of India

New Delhi: Over the past three decades, successive governments have followed the path of economic reforms to transform the country into a $3 trillion economy. And in the league of the world’s largest economies. But the road ahead is more difficult than the crisis of 1991, former Prime Minister Manmohan Singh said on Friday.
“It is not a time for joy and gaiety, but for introspection and reflection. Our priorities as a nation should be one for every Indian,” Singh said in a statement on the eve of the historic reforms that were initiated 30 years ago. There needs to be a recalculation to ensure a healthy and dignified life, the result of which experts say has reached a high level. growth and development.
He said the country has made tremendous economic progress in the last three decades due to the economic reforms initiated by the Congress government in 1991, while marking education and health as areas of concern.

Former prime minister, who led reforms under the then prime minister as finance minister in 1991 PV Narasimha RaoIn this period, about 300 million Indians have been lifted out of poverty and crores of new jobs have been provided to the youth.
He said that the reform process has instilled the spirit of free enterprise, which has helped in producing some world class companies and India has emerged as a global power in many fields.
“But I am also deeply saddened by the devastation caused by the COVID-19 pandemic and the loss of millions of fellow Indians. The social sectors of health and education have lagged behind and have not been able to keep pace with our economic progress. Many people have lost their lives and livelihood which should not have happened,” said Singh, who is a Rajya Sabha MP.
He said that the process of liberalization in 1991 started with the economic crisis facing the country at that time but it was not limited to crisis management. “India’s economic reforms were built on a desire to prosper, a belief in our abilities and a belief in the government to relinquish control of the economy,” Singh said, adding that he was fortunate to play a role in the process. Along with many of his colleagues in Congress.
As Finance Minister in 1991, I ended my budget speech by quoting Victor Hugo, ‘No power on earth can stop an idea whose time has come’. Thirty years later, as a nation, we must remember Robert Frost’s poem, ‘But I have a promise to go further miles to keep before I sleep’, Singh said in his statement.