sat down to write this piece on Dr. Manmohan Singh immediately after attending the cremation ceremony at Nigambodh Ghat. I have known Dr. Singh for more than 50 years, during which period he was for me a role model, mentor and friend. It is not easy to compress in an oped all that I would like to say about him, but much that needs to be said has already been said in the press coverage of the last two days. The reforms of 1991, which he introduced as finance minister in the P.V. Narasimha Rao government, are undoubtedly the most important part of his legacy. They brought about a decisive change in India's economic policies and performance, and it is now widely recognized that this change of direction set the stage for India's emergence as one of the world's fastest-growing emerging economies.
While economists and businessmen know that the reforms were truly transformational, I do worry that two-thirds of our population was born after 1991 and even the young adults among them have only a vague idea of the damaging policies they replaced. As the world re-arranges its views on protectionism and greater government intervention gains popularity around the world, there is a real danger of some of the earlier discredited policies creeping back.
This story is from the December 30, 2024 edition of Mint Bangalore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the December 30, 2024 edition of Mint Bangalore.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Biden warns of oligarchy and tech industrial complex in farewell address
President Biden said Wednesday that an oligarchy and a tech industrial complex were taking hold in America, warning of the risks of unchecked power in a farewell address that served as a bittersweet coda to his 50-year political career.
Calls for overwork take home labour as a given
Corporate advocacy of a long work-week assumes people's reliance for home chores on either low-paid labour toiling under harsh conditions or unpaid work—usually done by women
Govt may propose duty cuts for rare-disease and cancer drugs
The government's National Policy for Rare Diseases lists 63 ailments
Superman, Snow White key to Hollywood's 2025 comeback
Actors' & writers' strike in the US in 2023 delayed the release of several films, but experts see its impact waning now
There's a better way to predict a technology's future: Follow the rate of change
Evaluating a rising technology is often a binary operation, stuck in time. Does it work well? Yes or no? Has adoption lived up to expectations? Are the products and services built on the tech meeting revenue forecasts? Or not?
Farmers, Consumption, Jobs, Small Biz Budget Priorities
The finance minister's proposals will be closely watched amid global uncertainties
Reserve Bank keeps Tata Sons in upper-layer NBFC list
The Reserve Bank of India (RBI) on Thursday retained Tata Sons—the principal holding company of the Tata Group—in its list of 15 upper-layer non-bank financiers for FY25, but said it is \"without prejudice\" to the company's application to get itself deregistered.
Isro Achieves Satellite Docking Milestone
India is now only the fourth country to achieve the feat
India Net user base set to cross 900 mn
The Internet user base in India is set to cross 900 million this year, propelled by the growing use of Indic languages for digital content, according to a report by the Internet and Mobile Association of India and Kantar.
LTIMindtree beats revenue estimate
TIMindtree on Thursday reported third-quarter revenue above estimates, helped by the execution of large deals won in previous quarters, although its profit fell on account of an uptick in expenses.
