DISTINGUISHED ACADEMIC, economist and lawmaker, Manmohan Singh will be forever admired and revered as the chief architect of India's reforms. He was determined to make India a market-driven economy and, backed by Prime Minister Narasimha Rao, took path-breaking policy measures to make it one. His handling of the severe economic and balance of payments crisis, early on in his tenure, revealed his ability to come up with solutions. Devaluing the rupee against the dollar by 18%, in two stages, was no easy task. Also, Singh realised that the Indian currency needed to be more market-determined and made it largely that by 1996. The dismantling of the licence raj, and the revamped industrial licensing policy, freed many industries from the shackles of regressive licensing controls. The earlier unhealthy regime that fostered monopolies was liberalised and many more businessmen were empowered.
هذه القصة مأخوذة من طبعة December 28, 2024 من Financial Express Kochi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة December 28, 2024 من Financial Express Kochi.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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