Manmohan Singh - Time Quotes
3 Sourced Quotes
There is no time to lose. Neither the Government nor the economy can live beyond its means year after year. The room for maneuver, to live on borrowed money or time, does not exist any more. Any further postponement of macroeconomic adjustment, long overdue, would mean that the balance of payments situation, now exceedingly difficult, would become unmanageable and inflation, already high, would exceed limits of tolerance.
If our commitment to remain an open society is one of the pillars of our nationhood, the other is our commitment to remain an open economy. An economy that guarantees the freedom of enterprise, respects individual creativity, and at the same time mobilizes public investment for social infrastructure and the development of human capabilities. Indeed, it would be no exaggeration to suggest that these are the principles to which all countries will increasingly want to adhere. In relating to the world, we must never lose sight of this vital aspect of our Nationhood.
There is no doubt that our grievances against the British Empire had a sound basis for. As the painstaking statistical work of the Cambridge historian Angus Maddison has shown, India's share of world income collapsed from 22.6% in 1700, almost equal to Europe's share of 23.3% at that time, to as low as 3.8% in 1952. Indeed, at the beginning of the 20th Century, "the brightest jewel in the British Crown" was the poorest country in the world in terms of per capita income.