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70 percent of India's imports of oil and oil products are imported from abroad. There is uncertainty about supply. There is uncertainty about prices. And that hurts India's development.
Manmohan Singh
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Manmohan Singh
Age: 92
Born: 1932
Born: September 26
Banker
Civil Servant
Economist
Politician
Prime Minister Of India
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Imports
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Oil
Uncertainty
India
Imported
More quotes by Manmohan Singh
India's saving rate will go up. India's investment rate will go up. And I believe that's a plus point.
Manmohan Singh
When I became finance minister in 1991, I discovered that the wealth tax rates income - there was taxation on wealth. It was so atrocious and so high that actually nobody could accumulate money in an honest way. I removed that tax, and the result was that Indian companies for the first time acquired an incentive to grow big, to grow rich.
Manmohan Singh
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.
Manmohan Singh
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.
Manmohan Singh
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.
Manmohan Singh
I do believe that the future of civilization belongs to those who would lay emphasis on working together instead of talking about clash of civilizations.
Manmohan Singh
I think whatever I've done, I hope I've earned a footnote in India's long and tortuous history.
Manmohan Singh
I think the Chinese do have visions of being a great power. And I think it's legitimate. And I don't see that that's a danger to us.
Manmohan Singh
The first and foremost priority is to finish the unfinished task which the founding fathers of India set out for us at the time of our independence: to get rid of chronic poverty, ignorance, and disease, which have afflicted millions and millions of our people.
Manmohan Singh
Let me say that I think the economic history of the last 150 years clearly shows that if you want to industrialize a country in a short period, let us say 20 years, and you don't have a well-developed private sector, entrepreneurial class, then central planning is important.
Manmohan Singh
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.
Manmohan Singh
If certain facilities, local facilities have to be arranged, the local authorities have to come. And that makes the Indian system slow moving, Indian administrative system slow moving.
Manmohan Singh
I sincerely hope that the difficulties that are there in Iraq and Iran can be resolved, that Iraq will see a new era of hope in which its people will enjoy a full sovereignty. And also the problems that there is with Iran can be resolved through dialogue through giving diplomacy a chance.
Manmohan Singh
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.
Manmohan Singh
China's influence is bound to rise.
Manmohan Singh
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.
Manmohan Singh
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.
Manmohan Singh
We need multiculturalism, respect for diversity, tolerance, respect for diverse faiths.
Manmohan Singh
China is not I think a country which does not regulate, but there is a difference between the Chinese system and the Indian system.
Manmohan Singh
I do recognize that India has to be the center, the hub of activity as far as the knowledge economy is concerned.
Manmohan Singh
