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In a country where employment opportunities are not growing fast enough, the fear of change tends to be very acute.

Manmohan Singh

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Manmohan Singh
Age: 91
Born: 1932
Born: September 26
Banker
Civil Servant
Economist
Politician
Prime Minister Of India
Tends
Country
Employment
Enough
Opportunities
Fast
Growing
Opportunity
Fear
Acute
Change

More quotes by Manmohan Singh

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Economic policy and decision making do not function in a political vacuum.
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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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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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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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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.
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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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A politician before he can become a statesman has to remain in office long enough.
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Jawaharlal Nehru wanted India to develop close ties with China and learn from its experience.
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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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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 am convinced the entrepreneurial spirit of the Indian people, if allowed to express itself freely in the marketplace, India will be all right.
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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.
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I have to create in India a macroeconomic environment where the employment in aggregate can go up at a handsome rate. Once that happens, people losing jobs in one sector will not mean that they will become perpetually unemployed. From one sector, they can move on to other sectors.
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Protectionism is a very real danger. It is understandable that in times of a severe downturn protectionist pressures mount but the lessons of history are clear. If we give in to protectionist pressures, we will only send the world into a downward spiral.
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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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The emergence of India as a major global power is an idea whose time has come. This is a legitimate ambition for China. This is a legitimate ambition for India. And the challenge for the humanity is to evolve a world system in which the legitimate ambitions of both our countries can find constructive expression without threatening anybody else.
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India happens to be a rich country inhabited by very poor people.
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Capitalism historically has been a very dynamic force, and behind that force is technical progress, innovation, new ideas, new products, new technologies, and new methods of managing teams.
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We need multiculturalism, respect for diversity, tolerance, respect for diverse faiths.
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I believe a large part of humanity will draw appropriate lessons from what is the wave of the future in the 21st century.
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