I know economic liberalization was one of the most important events in the history of India. But to give credit to Narsimha Rao and Manmohan Singh for it is similar to lying to the masses and living in the mode of denial. Let us not forget that India became a bankrupt country during VP Singh and Chandresekhar government. We did not have enough foreign exchange to buy oil whose importance is needless to be repeated. As a result we had no option but to go to the World Bank and IMF. These foreigners twisted our hand to implement the economic liberalization. It was not as if Rao and Singh were fed up with the License Raj and Permit Raj and wanted to free the Indian industries from the evil clutches of the government. Economic liberalization was thrust upon the Indians by the outsiders. I know it was a great thing for everybody (and in the process and because of liberalization we now ask right questions) but to give credit to Rao and Singh is stretching it too far. Let the youths of India be aware of this fact.
Personally I am all for economic liberalization. I even want that education sector be freed from the government control so that the Indian youth gets what they deserve. I hope you all agree.
RE:Economic liberalization
by Sreekanth Nemani on Aug 16, 2007 02:15 AM Permalink
My dear fellow the IMF and world bank were armtwisting for decades. It is the vision and bravery of Rao and Singh that let economic liberalization happen. From 1991 to 1996 most people even within the congress were against it. In fact when Deve Gowda became prime minister in 1997, most of the policies were regressive.
Manmohan Singh tendered hs resignation to Rao atleast 3 times because of the opposition within congress. Each time Rao would solve the issues. The Importance of Narasimha Rao has always been glossed over in indian conciousness, which is very unfortunate.
RE:Economic liberalization
by RajKumar SIngh on Aug 16, 2007 02:20 AM Permalink
The IMF and World Bank were arm twisting us for decade and in spite of that the Indian government didn't succumbed to them was because India had that HUGE SOCIALIST pride. But when we became BANKRUPT all our SOCIALIST pride evaporated in thin air and we realized where we were standing.
RE:Economic liberalization
by anil on Aug 16, 2007 06:35 AM Permalink
in india only one family matter the rest are useless fellows as per the congress it seem only nehru - gandhi family sacrificied nobody else can sacrifice for india that is what will be taught in schools from next year i think
