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MONEY DOESN'T GROW ON TREES, SAYS MANMOHAN SINGH

PUBLISHED BY: SURENDER KUMAR
OCTOBER 25, 2012

   
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In a rare televised appearance, the Prime Minister Dr. Manmohan Singh, appealed to all Indians to understand the compulsions his government was facing while announcing the recent economic reforms and oil hikes. The confident appearance was in sharp contrast to the earlier, diffident image cultivated by him.

 

He emphasized that the current situation was quite similar to the one in 1991 when India was paratically on the verge of being broke and how he had lifted the country out of the morass then. He appealed to the countrymen to repose faith in him because, in his words, "being the architect of the 1991 economic reforms", he was confident of his ability to pull the country out of the current crisis. Further, it had become necessary to plug the deficits of oil cos. by reducing subsidies as "money does not grow on trees". It was imperative to send the right policy signals and promote FDI in India so as to enable better incomes, more jobs and cheaper prices.



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