The 30 years that changed the country
- Today, India’s economy is facing exceptional headwinds yet again, battered by a pandemic.
- A potentially historic budget is at our doorstep. The circumstances are ripe for deep reforms.
It was in 1991, three decades ago, that India, left with little time or options, ushered in pivotal economic reforms. It opened up its economy and abolished the intricate system of controls that gave the state primacy in most aspects of business and daily life. “No power on earth can stop an idea whose time has come," the then finance minister Manmohan Singh said during his 1991 budget speech, quoting French poet Victor Hugo.
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