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20 years on: Economic reform in India

07-25-2011 17:27 BJT

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20 years on, political leaders in India continue to analyze the impacts of economic reforms introduced by the then Finance Minister, Manmohan Singh.

In 1991, Singh put forth financial conditions for the country which stood on the brink of bankruptcy. Under the circumstances, Singh decided to reject the license raj and introduced the reforms which have consequently, transformed the lives of millions of Indian citizens.

One political leader notes the country has achieved a lot during the past 20 years; and it's due to the economic reforms that the country is now deemed as a superpower in the international arena.

Congress leader Rajiv Shukla said, "As a result of these reforms, India's foreign reserves have increased, economic growth increased, industrialization grew and most importantly, foreign investment witnessed growth. Share markets also saw an upswing. It created an atmosphere of happiness and development started to take place while employment opportunities increased."

 

Editor:Li Wanran |Source: CNTV.CN

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