New Delhi: The 1991 economic reforms lifted millions out of poverty, unleashed the spirit of free enterprises, and catapulted India into a $3 trillion economy but the road ahead is even more daunting than the 1991 crisis, former Prime Minister Dr Manmohan Singh has said.
Speaking on 30 years of economic liberalisation, he said a healthy and dignified life for every Indian must be prioritised.
Recalling the 1991 moment, he said on this day 30 years ago, the Congress had “ushered in significant reforms of India’s economy and paved a new path for our nation’s economic policy”.
Over the last three decades, he said, successive governments have followed this path to catapult India to a $3 trillion economy and into the league of the world’s largest economies. Manmohan however added, “it is not a time to rejoice and exult but to introspect and ponder as the road ahead is even more daunting than during the 1991 crisis”.
He said the reforms process unleashed the spirit of free enterprise which has helped produce some world-class companies and helped India emerge as a global power in many sectors.