Manmohan Singh Quotes About Economy
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India's future lies in being an open society, an open polity, a functioning democracy respecting all fundamental human freedoms, accepting the rule of law and, at the same time, to emerge as a successful, internationally competitive market economy.
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I have always believed that the ultimate purpose of economic policies and development policy is to meet the basic needs of our people. And for that, we need a fast-expanding economy.
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I believe that without looking at each other as rivals or as competitors, in a democratic India, operating in the framework of an open economy, an open society has, I think, some significance for developing countries, not only in Asia but outside Asia.
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If the economy is not expanding, the redistribution of income becomes a zero-sum game. And therefore, all the class struggle - and it becomes much more vicious.
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Nowhere else you will find a country of India's diversity, of India's complexity, one billion people trying to seek their social and economic salvation in the framework of democracy, in the framework of an open economy.
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We are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role. The private sector in our country has very ample scope and I am confident that India's entrepreneurs have the capacity, and the will to rise to the occasion.
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The Chinese economy is growing at the rate of 9 percent; the Indian economy growing at the rate of 8 percent - enormous I think opportunities for two-way flow of trade, technology and investment.
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I think the modernization of Chinese economy and Chinese society is a prime concern.
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We have to walk on two legs. We have to create conditions in which manufacturing and services - the economy outside agriculture - move and move fast enough. And at the same time the working force that is available must have skills which will fit the kind of jobs which will be in demand.
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Meaningful solutions to the problems of mass poverty that prevails in India I believe can only be found in the framework of an expanding economy.
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I think, overall, India is today on the move. The economic reforms that our salvation lies in - operating an open society, political system, an open economy, economic system - this has widespread support.
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If the economy grows enough, fast enough, the tech system should be modernized so that the tax revenues rise fast enough also, and we should put more money in education.
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If you don't have a functioning financial system the world economy won't be revived. All the major economies have their responsibility to assist at a pace which is required to clean up the balance sheet of the banking system and to ensure that credit flows are resumed.
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I do recognize that India has to be the center, the hub of activity as far as the knowledge economy is concerned.
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If you have a rigidly controlled economy, cut off from the rest of the world by infinite protection, nobody has any incentive to increase productivity and to bring new ideas.
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If the economy is growing fast, there is call for a distributing income from the rich to the poor to to put in place social safety nets.
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The Indian economy grew at 5.5 percent, but if you look at the last 30 years - for example, 1960 to 1985 - the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty.
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Agribusiness and food processing are important parts of modernizing our economy, of modernizing our agriculture and moving into a phase where a more modernized agriculture helps not only farmers but also helps consumers.
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A new India which realizes its destiny in the framework of an open society, in the framework of an open economy, respecting all fundamental human freedoms great respect for pluralistic, inclusive value system. I think that's what unites India and the United States. And I do hope that working together, our two countries can write a new chapter in the history of our relationship.
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Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.
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