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The last five-years however has been the best for corporate India in terms of net profit growth thanks to margins expansion and gains from a cut in corporate tax in September 2019
He introduced a dual exchange rate mechanism in February 1992 and unified exchange rate mechanism in February 1993, effectively engineering a further devaluation of about 30 per cent
Updated On: Dec 29 2024 | 11:43 PM ISTSingh's term as Prime Minister also witnessed several landmark decisions which, in a way, were built on the foundation he laid as finance minister
Updated On: Dec 29 2024 | 10:00 PM ISTManmohan Singh showed that technocrats can change nations' destinies as effectively as any populist
Updated On: Dec 29 2024 | 9:49 PM ISTCongress leaders on Friday paid tributes to former prime minister Manmohan Singh on his first death anniversary, saying his humility, honesty and legacy would continue to inspire the future generations. Describing Singh as a transformative leader, Congress president Mallikarjun Kharge said he reshaped the country's economic path and expanded opportunities for millions through economic reforms and lifted millions out of poverty. "Known for his humility, integrity, and wisdom, he led with dignity and compassion, ensuring that progress remained inclusive and welfare reached those most in need. The rights-based paradigm is a testament to that approach. We had built a stronger India under his vision," he said. "We pay our heartfelt tribute to a statesman whose legacy of honest public service and lasting reforms shall continue to inspire generations," the Congress chief said in a post on X. Former party president Rahul Gandhi also paid tributes to the former prime minister. "Through his
Congress chief Mallikarjun Kharge on Thursday referred to the 1991 landmark liberalisation budget to say India urgently needed an impactful second-generation economic reforms, but an "inherent inertia" has set in the Narendra Modi government in the past 11 years. He alleged that due to the "disastrous economic policies" of the Modi dispensation, "which lacks both vision and action", the economy is reeling at a sub-par growth rate. "Inequality has widened, wage growth has miserably stagnated, household savings are getting depleted, youth do not have jobs, the middle class and poor are being robbed to help cronies, and we are facing a trade war, which would hurt both our agriculture and manufacturing sectors," Kharge alleged. "Thanks to the disastrous economic policies of the Modi government, which lacks both vision and action," he said. On the 34th anniversary of the presentation of the budget by then finance minister Manmohan Singh that ushered in economic liberalisation, Kharge sa
With a BJP leader accusing him of illegally acquiring 12.35 acres of government land in Bengaluru, Indian Overseas Congress chief Sam Pitroda on Wednesday said he does not own any land, home, or stocks in India. BJP leader N R Ramesh has alleged that Sam Pitroda, with the help of five senior government officers, including forest department officials, illegally acquired 12.35 acres of government land worth Rs 150 crore at Yelahanka in Bengaluru, Karnataka. Ramesh, a former councillor in the Bruhat Bengaluru Mahanagara Palike (BBMP), has lodged a complaint with the Enforcement Directorate and the Karnataka Lokayukta. In a statement put out on X, Pitroda said, "In light of recent reports in the Indian media, both on television and in print, I wish to categorically state the following: I do not own any land, home, or stocks in India." "Additionally, during my tenure working with the government of India -- whether with Prime Minister Rajiv Gandhi in the mid-1980s or with Dr. Manmohan Si
Senior Congress leader P Chidambaram on Monday asked in Rajya Sabha why the government has not conferred the Bharat Ratna award upon former prime minister Manmohan Singh for his contribution to the country. Retorting Chidambaram's comment, BJP member Dinesh Sharma said what the Congress has given to Singh beyond insulting him. In his address during the discussion on the Union Budget 2025-26 in Rajya Sabha, Chidambaram alleged that the present government has no philosophy and "thus no policies". "In 1991, we faced the gravest situation. A man entered this Parliament; he had an economic philosophy and followed it with policies. That required wisdom and farsightedness - qualities embodied by Dr Manmohan Singh," he recollected. Chidambaram further said, "To recapture the wisdom and farsightedness of Dr Manmohan Singh, I pose one last question to the government through the Finance Minister: Why has the Bharat Ratna not been conferred upon Dr Manmohan Singh?" Retorting, Sharma recollect
The economic policies framed by former Prime Minister Manmohan Singh formed the basis of India's growth and Tamil was accorded classical language status during his reign, Tamil Nadu Chief Minister M K Stalin said on Tuesday. Paying rich tributes to Singh at a memorial meeting organised by the TNCC here, he said the late Prime Minister had served as Finance Minister during the economic crisis. "Manmohan Singh brought various schemes for the welfare of the people. The economic policies formulated by him became the foundation for India's growth, Stalin, who is also the DMK president, said on Singh who died due to age-related ailments on December 26, 2024. In 2004 the Prime Minister's position came seeking him following the victory in the elections. Everybody including former Chief Minister M Karunanidhi urged Congress leader Sonia Gandhi to accept the position. But she declined and was magnanimous enough to give it to Manmohan Singh, Stalin said. Singh remained in power for a decade a