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.
Diese Geschichte stammt aus der December 28, 2024-Ausgabe von Financial Express Ahmedabad.
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Diese Geschichte stammt aus der December 28, 2024-Ausgabe von Financial Express Ahmedabad.
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ICC explores two-tier Test cricket system
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Q-comm boost to gig worker hiring in 2025
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D-Street catches flu
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Eight jawans among 9 killed in Naxal attack
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Banks, NBFCs see hit to...
THESE SUBSIDIARIES THEN use the data to approach the customer and offer products and services such as insurance, mutual funds, demat accounts and other related financial solutions.
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No segment shows growth except tractors
Banks: Slower loan growth a worry
Asset quality concerns ease
SBI Cards: Credit costs to improve
Management strengthens risk assessment measures
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Weak drivers
Budget should have measures to resuscitate the middle class
