Saturday, September 22, 2012

PM’s assurance

Prime Minister Dr. Manmohan Singh has rightly spoken to the people of India and told them why big economic reform measures were necessary to be introduced to keep away the worsening economic situation like we had experienced in 1991 when no nation was prepared to give even small amount of money in loan. The credit goes to the PM for introducing economic reforms in India to take the nation out of the grave economic crisis in 1991. The budgetary and current account deficit gap had widened to the extent that the nation had left with the foreign reserve of 7 days to import any goods in 1991. The same situation will have to be faced by us if we did not take preventive economic measures. Presently, the nation has foreign reserve to sustain import for not more than seven months. The worsening economic situation demands earnestly on the government to take hard steps to offset it to take over us. That is why UPA Govt. has taken tough economic decisions to keep nation's future bright. Every time when the government carries economic reforms forward to improve the economic situation, there is stiff opposition from all the opposition parties. The coming of computer and opening up of telecom sectors for private players was fiercely opposed and it was said by the opposition parties that these measures would render crores of people jobless. But what happened is all before us. Our nation emerged as economic power and crores of jobs were created. The disinformation campaign about economic reform measures was proved wrong by none other than the Prime Minister Manmohan Singh in the capacity of Finance minister in the Narsimharao's Council of Ministers in 1991. Dr. Singh is an acclaimed authority on economics not only in India but all over the world. Deteriorating economic situation started drawing flak from all over the world. The major economies of the world and their newspapers and magazines started taunting our Prime Minister Manmohan Singh about his competency in carrying forward economic reforms. He has strengthened the Indian economy that has withstood and warded off any impact of the downturn of the western world. As far as economy of the nation is concerned, no person at least in India claims to have better knowledge of it than Prime Minister Manmohan Singh. He knows better than anyone else how to improve the economy in the age of economic globalization. By telling the nation why he allowed 51 percent FDI in multi-brand retails, hiked diesel price by Rs 5 per litre and put cap on LPG Cylinder and assuring the people of improving the economy, Prime Minister cautioned them not to be misled by the protests of opposition parties and launching of disinformation campaign.

No comments:

Post a Comment