Monday 25 July 2011
Indian economy changed in 1991-2011
Manmohan Singh speeches, made exactly twenty years ago, will go down in the annals of Indian history as the one that changed India.
Singh presented the finances of a country that was nearly bankrupt and slayed the licence raj, thereby changing the lives of not just India's 84 crore citizens then but those of another 36 crore citizens who have been born since.
Since 1991, India's GDP has quadrupled, its forex reserves have surged from $5.8 billion to $279 billion, and exports from $18 billion to $178 billion.
But these are just numbers. The change in our lives and lifestyles is a lot more fascinating. Back in 1991, owning a Maruti 800 (Rs 1.48 lakh in Delhi) was a middle- class status symbol.
Singh presented the finances of a country that was nearly bankrupt and slayed the licence raj, thereby changing the lives of not just India's 84 crore citizens then but those of another 36 crore citizens who have been born since.
Since 1991, India's GDP has quadrupled, its forex reserves have surged from $5.8 billion to $279 billion, and exports from $18 billion to $178 billion.
But these are just numbers. The change in our lives and lifestyles is a lot more fascinating. Back in 1991, owning a Maruti 800 (Rs 1.48 lakh in Delhi) was a middle- class status symbol.
