Road ahead is more daunting than 1991 crisis: Manmohan Singh

[bhaigan]

Former prime minister Manmohan Singh on Friday stated that the road ahead is even more daunting than during the 1991 economic crisis and the nation would need to recalibrate its priorities to ensure a dignified life for all Indians.

On the eve of the 30th anniversary of economic liberalization, Singh said he was deeply saddened at the devastation caused by the COVID-19 pandemic, the loss of millions of fellow Indians and livelihoods.

“It is not a time to rejoice and exult but to introspect and ponder. The road ahead is even more daunting than during the 1991 crisis,” Singh said in the statement. “Our priorities as a nation need to be recalibrated to foremost ensure a healthy and dignified life for every single Indian.”

He remarked that India has grown to be a USD 3 trillion economy and lifted nearly 300 million Indians out of poverty in the last three decades. He talked about the economic liberalisation policies of 1991 and said that those reforms “paved a new path for our nation’s economic policy”.

Singh worked with then prime minister P V Narasimha Rao to bring the new economic policy in 1991. The main objectives of the policy were globalisation, building foreign reserves, higher economic growth, economic stabilisation, and building the gap between public and private sectors.

Talking about the reforms, he added that they “unleashed the spirit of free enterprise”.

“The economic liberalisation process in 1991 was triggered by an economic crisis that confronted our nation then, but it was not limited to crisis management. The edifice of India’s economic reforms was built on the desire to prosper, the belief in our capabilities, and the confidence to relinquish control of the economy by the government,” Singh said.

Speaking about his role in the reform policy, Singh said he was “fortunate to play a role” in the process. “But I am also deeply saddened at 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 not kept pace with our economic progress. Too many lives and livelihoods have been lost that should not have been.”

“30 years later, as a nation, we must remember Robert Frost’s poem, ‘But I have promises to keep, And miles to go before I sleep,” he added.

[MRI]

nuvvu mundu notlo mod pettukokunda vuntey manaki ee paristhithi vachedi kaadu

[DesiPokiri]

7 minutes ago, MRI said:

nuvvu mundu notlo mod pettukokunda vuntey manaki ee paristhithi vachedi kaadu

Notlo mod pettukundhi modi kadha 

[Ryzen_renoir]

He's right , growing a poor economy is easy but there is a tough barrier in going from poor to middle income . 

India has not overcome that in last ten years and covid has ensured India will remain a poor nation atleast a decade more

[MRI]

25 minutes ago, DesiPokiri said:

Notlo mod pettukundhi modi kadha 

correct ee bro.. MMS gaadu poo naakuntundey.. Mo gaadu Sha gaadi mo pettukunnadu..

[Jambhalheart]

Covid valla economy bagaa effect avthundhi for the next 3 to 4 years at least

MMS emo right person in wrong party , BJP lo vundi vuntey ee patiki India situation ki better

[jalsa01]

32 minutes ago, Jambhalheart said:

Covid valla economy bagaa effect avthundhi for the next 3 to 4 years at least

MMS emo right person in wrong party , BJP lo vundi vuntey ee patiki India situation ki better

We do have good bureaucrats currently and MMS is one among them...

[veerigadu]

Givanni li8 Swiss money 12 lakhs per person thestham tharvatha gelustham ani Terri flowers telling 

[dewarist]

6 hours ago, MRI said:

nuvvu mundu notlo mod pettukokunda vuntey manaki ee paristhithi vachedi kaadu

Perfect logic

[8pm]

58 minutes ago, veerigadu said:

Givanni li8 Swiss money 12 lakhs per person thestham tharvatha gelustham ani Terri flowers telling 

15 anukunta

[dewarist]

Just now, 8pm said:

15 anukunta

After Tax , 12 emo

[8pm]

1 hour ago, dewarist said:

After Tax , 12 emo

Mee antis ki 200% veyyali 

[bhaigan]

3 hours ago, veerigadu said:

Givanni li8 Swiss money 12 lakhs per person thestham tharvatha gelustham ani Terri flowers telling 

2014 elections appudu chepparu

ippatiki nobody cares it

[NiranjanGaaru]

E MMS gadi tenure lo jarigina scams ki answer evadu chepthadu india lost more than 5 lakh crores in his tenure

[bhaigan]

Just now, NiranjanGaaru said:

E MMS gadi tenure lo jarigina scams ki answer evadu chepthadu india lost more than 5 lakh crores in his tenure

aa scams anni dismiss chesesaru adyaksha