Manmohan Singh’s iconic 1991 budget speech that changed the country forever – ‘India is now wide awake…’
1 week ago

Manmohan Singh’s iconic 1991 budget speech that changed the country forever – ‘India is now wide awake…’

Live Mint  

Manmohan Singh, who passed away on Thursday at 92, was Prime Minister for two terms in the Congress-led UPA government from 2004 to 2014. Singh also served as Finance Minister in the government of Prime Minister PV Narasimha Rao from 1991 to 1996, when he was instrumental in implementing sweeping economic reforms in the country. It was on July 24, 1991, that the then Finance Minister Manmohan Singh gave a historic speech that eventually opened India’s doors to global economy. In the 1991 Budget, Singh introduced economic reforms that liberalised the country and undertook measures to boost domestic growth at a time when the country was battling a severe balance of payments crisis. Congress leader Jairam Ramesh's book "To the Brink and Back: India's 1991 Story" recounts the fast-paced changes after Rao became prime minister in June 1991.

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History of this topic

Manmohan Singh: Optimistic about India’s economy with a word of caution
6 days, 22 hours ago

Manmohan Singh: Optimistic about India’s economy with a word of caution

Deccan Chronicle  

Hyderabad: Just as in his first 1991 Budget, former prime minister Manmohan Singh was confident and optimistic about India's future. Speaking about challenges ahead for India, Dr Singh said, "On the whole, I am more optimistic about India’s future than worried. “As we pursue the path of inclusive economic growth, we should not permit only a select few among India’s …

Manmohan Singh: A testament to the power of quiet conviction
1 week ago

Manmohan Singh: A testament to the power of quiet conviction

Live Mint  

When prime minister Narasimha Rao handpicked Dr Manmohan Singh as finance minister in 1991, it was an audacious gamble. Facing a near-catastrophic balance-of-payments crisis, Singh unlocked India with reforms, dismantled decades-old red tape, and gave wings to the nation’s entrepreneurial spirit. An economist of rare brilliance, a statesman of unshakable integrity, and a man of quiet yet unyielding resolve, Dr …

From Gah to global glory: How Manmohan Singh scripted India's economic renaissance
Trending News
1 week ago

From Gah to global glory: How Manmohan Singh scripted India's economic renaissance

India Today  

Manmohan Singh, a towering economist and the architect of India’s economic liberalisation, passed away on December 26 at the age of 92. Revered for his quiet demeanour, Singh’s legacy is etched in India’s transformation from a struggling post-colonial economy to an emerging global powerhouse. By opening up the economy to foreign direct investment and streamlining industrial policies, Singh laid the …

Manmohan Singh: Congress Leaders Pay Tribute to a Visionary Leader
1 week ago

Manmohan Singh: Congress Leaders Pay Tribute to a Visionary Leader

Deccan Chronicle  

New Delhi:Former Prime Minister Manmohan Singh's final journey will commence from the 24 Akbar Road All India Congress Committee headquarters to the Nigam Bodh Ghat at 9.30 am on Saturday. "We in the Congress party and the people of India will forever be proud and grateful that we had a leader like Manmohan Singh, whose contributions to India's progress and …

DC Edit | Dr Singh’s growth prescription
1 week ago

DC Edit | Dr Singh’s growth prescription

Deccan Chronicle  

If one sits down to pen India’s economic history after Independence, it could be broadly classified into two eras — Pandit Jawaharlal Nehru’s socialist era from 1950 to 1991 and Dr Manmohan Singh’s liberal economic regime from 1991 onwards. The economic policies before 1991 were largely influenced by India’s suspicion of foreign traders, in view of its experience with the …

Manmohan Singh: Congress Leaders Pay Tribute to a Visionary Leader
1 week ago

Manmohan Singh: Congress Leaders Pay Tribute to a Visionary Leader

Deccan Chronicle  

New Delhi:Former Prime Minister Manmohan Singh's final journey will commence from the 24 Akbar Road All India Congress Committee headquarters to the Nigam Bodh Ghat at 9.30 am on Saturday. "We in the Congress party and the people of India will forever be proud and grateful that we had a leader like Manmohan Singh, whose contributions to India's progress and …

An Indian visionary committed to regional peace: South Asian leaders remember Manmohan Singh
1 week ago

An Indian visionary committed to regional peace: South Asian leaders remember Manmohan Singh

The Hindu  

“Take steady steps and take your time” was the advice then Prime Minister Manmohan Singh gave Hamid Karzai, who became President of Afghanistan at the age of 45, when he first met him in 2004. Speaking to The Hindu on Friday, Mr. Karzai said India and Afghanistan had the “best relations” during Dr. Singh’s tenure, as India became Afghanistan’s first …

Dr Manmohan Singh's reforms redefined India's trajectory as a rising global power
1 week ago

Dr Manmohan Singh's reforms redefined India's trajectory as a rising global power

Deccan Chronicle  

New Delhi: Former Prime Minister Dr Manmohan Singh, who breathed his last on Thursday night, had a legacy of economic reforms in India. REACTIONS: Recalling Dr Singh's contributions as the architect of India's economic reforms, RBI Governor Sanjay Malhotra said on Friday that India’s economic reforms have left an indelible mark. Former RBI governor Urjit Patel also said Dr Singh …

Manmohan Singh's reforms transformed India, unshackled economy: Economists
1 week ago

Manmohan Singh's reforms transformed India, unshackled economy: Economists

Deccan Chronicle  

New Delhi: Former Prime Minister Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians, first deputy managing director of the International Monetary Fund Gita Gopinath said on Friday. "Dr Manmohan Singh's 1991 budget unshackled India's economy, significantly enhancing the economic prospects for hundreds of millions of Indians. Former RBI Governor Raghuram …

Manmohan Singh: The archetypical insider who guided India towards its economic potential
1 week ago

Manmohan Singh: The archetypical insider who guided India towards its economic potential

Live Mint  

Manmohan Singh was chief guest at the annual convocation of the Indian Institute of Management Bangalore on 15 April 1991. After a stint in academia and the United Nations Conference on Trade and Development in New York, Manmohan Singh joined the Indira Gandhi government in 1972 as an economic advisor. Manmohan Singh left an indelible mark on India, and on …

What Manmohan Singh said about Indian economy in one of his last interviews
1 week ago

What Manmohan Singh said about Indian economy in one of his last interviews

Hindustan Times  

Hailed as the architect of India's economic reforms, former prime minister Manmohan Singh, in one his last interviews, had said in 2019 that the country's economy was "over-regulated", the government exerted control and interferences were aplenty with even regulators having "morphed into controllers". Manmohan Singh with Hillary Clinton and Joe Biden at a toast for 'Indo-American' friendship at a luncheon …

Manmohan Singh (1932-2024): The maker of modern Indian economy, is no more
1 week, 1 day ago

Manmohan Singh (1932-2024): The maker of modern Indian economy, is no more

The Hindu  

Published : Dec 27, 2024 08:58 IST - 6 MINS READ Former Prime Minister Manmohan Singh, the architect of India’s economic reforms in the 90s, passed away at 92 on Thursday. That is why he lasted for ten years.”Neerja Chowdhury Journalist-author In an obvious reference to Singh’s prophetic words, Congress President Mallikarjun Kharge said on Thursday, “Undoubtedly, history shall judge …

When Manmohan Singh thought announcement of him becoming Cabinet minister in Rao government was a joke
1 week, 1 day ago

When Manmohan Singh thought announcement of him becoming Cabinet minister in Rao government was a joke

India TV News  

Manmohan SIngh passes away: Manmohan Singh, the architect of India's economic reforms, died on Thursday at the age of 92 at AIIMs, Delhi. While Singh will be remembered for his historic 1991 reforms, which rescued India from near bankruptcy, he will also be known for redefining India's trajectory as a rising global power. UPDATES However, not many know that the …

How Manmohan Singh pulled India from brink of economic death | From the archives
1 week, 1 day ago

How Manmohan Singh pulled India from brink of economic death | From the archives

India Today  

In 1991, India's economy was in a mess and on the verge of collapse. Jakhar's support to the new economic package is critical because the government will have to slash fertiliser subsidies—a move he is ready to back, though he would like the cut to be compensated through "remunerative prices to farmers". A senior World Bank executive in Washington D.C. …

Manmohan Singh's key reforms that shaped Indian economy
1 week, 1 day ago

Manmohan Singh's key reforms that shaped Indian economy

India Today  

"I honestly believe that history will be kinder to me than the contemporary media, or for that matter, the opposition parties in Parliament," Dr Manmohan Singh famously said in 2014 towards the end of his second term as the Prime Minister. THE 1991 ECONOMIC REFORMS Manmohan Singh’s reforms were centred around liberalisation, privatisation, and globalisation, which fundamentally changed the Indian …

Manmohan Singh: Astute economic thinker who leaves behind a lasting legacy
1 week, 1 day ago

Manmohan Singh: Astute economic thinker who leaves behind a lasting legacy

Hindustan Times  

What is the economic legacy of Manmohan Singh in India? To be sure, Singh’s ideas of a mixed economy were radically different from what his party, the Congress, tried to achieve when India gained Independence. In his essay The Road to the 1991 Industrial Policy Reforms and Beyond, published in the collection India Transformed: 25 Years of Economic Reforms, former …

Manmohan Singh, The Finance Minister Who Rescued India From Economic Collapse: A Look Back
1 week, 1 day ago

Manmohan Singh, The Finance Minister Who Rescued India From Economic Collapse: A Look Back

ABP News  

Manmohan Singh Death: Dr Manmohan Singh, India's former Prime Minister and a celebrated economist, breathed his last on Thursday, December 26, at the age of 92. Before taking up the mantle of Prime Minister, Singh served as the 22nd Union Minister of Finance from June 1991 to May 1996, a tenure that marked a transformative period for the nation's economy. …

When Manmohan Singh Scrapped 'Licence Raj' And Saved India From An Economic Crisis With His 'L P G Reforms'
1 week, 1 day ago

When Manmohan Singh Scrapped 'Licence Raj' And Saved India From An Economic Crisis With His 'L P G Reforms'

ABP News  

Manmohan Singh's legacy will live on for generations to come. In Pics: Times When Manmohan Singh Used Cricket Diplomacy To Ease India-Pakistan Relations Road To Crisis: How India Arrived At The 1991 Economic Ruin In 1991, India faced one of its most severe economic crises, teetering on the brink of default. Prime Minister PV Narasimha Rao realised the dangerous situation …

Manmohan Singh and 1991 Budget: The economic stalwart, finance minister who changed shape of Indian economy
1 week, 2 days ago

Manmohan Singh and 1991 Budget: The economic stalwart, finance minister who changed shape of Indian economy

India TV News  

In July 1991, the then Finance Minister Manmohan Singh presented a landmark budget, which is credited for modern India's economic progress. Presenting the budget, Manmohan Singh explicitly mentioned the crisis India was facing, as he said, "the new Government, which assumed office barely a month ago, inherited an economy in deep crisis. It is reported that within a few days …

History will be kinder to me: The moment when graceful Manmohan Singh deftly handled volley of questions
1 week, 2 days ago

History will be kinder to me: The moment when graceful Manmohan Singh deftly handled volley of questions

India TV News  

In one of his most famous statements, former PM Manmohan Singh before demitting office as the prime minister in 2014 had said, "history will be kinder to me", asserting that his leadership was not as weak as projected at that time. In what can be termed his last press conference as the Prime Minister, the former PM said in 2014, …

Dr. Manmohan Singh, architect of India's economic reforms, passes away at 92
1 week, 2 days ago

Dr. Manmohan Singh, architect of India's economic reforms, passes away at 92

India Today  

Dr. Manmohan Singh, the 14th Prime Minister of India and the architect of the nation’s economic reforms, passed away in New Delhi on Thursday at the age of 92. A Storied Political and Administrative Career Dr. Singh served as India’s Prime Minister from May 22, 2004, to May 26, 2014, leading the Congress-led United Progressive Alliance government for an unprecedented …

Congress recalls Manmohan Singh’s ‘groundbreaking’ Liberalisation Budget
5 months, 1 week ago

Congress recalls Manmohan Singh’s ‘groundbreaking’ Liberalisation Budget

The Hindu  

Congress president Mallikarjun Kharge on July 24 recalled the “groundbreaking achievement of the Liberalisation Budget of 1991” and asserted that there is a pressing need once again for meaningful and robust second-generation reforms. Narasimha Rao and Finance Minister Manmohan Singh, ushered in a new era of economic reforms, Mr. Kharge said in a post on X. July 1991 marked a …

Throwback: When Manmohan Singh quoted Victor Hugo in Budget speech
5 months, 2 weeks ago

Throwback: When Manmohan Singh quoted Victor Hugo in Budget speech

Hindustan Times  

Manmohan Singh presented the Union Budget on July 24, 1991- a landmark budget that ushered in a new dawn for the Indian economy. We shall overcome.” Manmohan Singh quoted Victor Hugo when he presented the Union Budget on July 24, 1991. {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} {{^usCountry}} {{/usCountry}} At the time, PV Narasimha Rao, then prime minister of India, oversaw reforms …

Dr Manmohan Singh: The Architect Of India's Economic Reform
1 year, 3 months ago

Dr Manmohan Singh: The Architect Of India's Economic Reform

ABP News  

Dr Manmohan Singh, a prominent figure who held the positions of finance minister and prime minister, is widely recognised as a trailblazer in the implementation of economic liberalisation policies within the country. Dr Manmohan Singh held various esteemed positions within the government, including serving as the economic advisor in the Ministry of Foreign Trade, chief economic advisor in the Ministry …

1991: Economic reforms
2 years, 4 months ago

1991: Economic reforms

The Hindu  

Published : Aug 15, 2022 06:00 IST Arguably, 1991 was not an ideal period for India to ‘open up’ its economy. There was the looming balance of payments and foreign exchange crisis; inflation had hit a staggering 16.7 per cent in August that year; fiscal deficit was 8.4 per cent; the Soviet Union, India’s long-term ally, had just collapsed; the …

Union Budget 2022: From Colonial India to 1991 Reforms, A Look at the Journey of India's Financial Plan
2 years, 11 months ago

Union Budget 2022: From Colonial India to 1991 Reforms, A Look at the Journey of India's Financial Plan

News 18  

Come February 1 and Finance Minister Nirmala Sitharaman will present the Union Budget 2022 as India reels under a fresh wave of coronavirus driven by the Omicron variant. Pre-independent India saw its first budget on February 18, 1869, presented by James Wilson, the ‘Finance Member of the India Council’. Although Wilson’s budget was criticised for failing to take into account …

Road Ahead More Daunting, Need to Recalibrate Priorities: Manmohan Singh on 30 Yrs of Liberalisation
3 years, 5 months ago

Road Ahead More Daunting, Need to Recalibrate Priorities: Manmohan Singh on 30 Yrs of Liberalisation

News 18  

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, said former prime minister Manmohan Singh on Friday. In a statement marking the 30th anniversary of economic liberalisation, Singh said he was deeply saddened at the devastation caused by the …

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