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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.
Manmohan Singh
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Manmohan Singh
Age: 91
Born: 1932
Born: September 26
Banker
Civil Servant
Economist
Politician
Prime Minister Of India
Also
Rise
Enough
Fast
Taxes
System
Economy
Modernized
Grows
Revenues
Education
Tech
Money
Revenue
More quotes by Manmohan Singh
China's influence is bound to rise.
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Terrorists had the advantage of surprise.
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China is not I think a country which does not regulate, but there is a difference between the Chinese system and the Indian system.
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Jawaharlal Nehru wanted India to develop close ties with China and learn from its experience.
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We all know the epicentre of terrorism in the world today is Pakistan. The world community has to come to grips with this harsh reality.
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In a country where employment opportunities are not growing fast enough, the fear of change tends to be very acute.
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I look upon India-U.S. nuclear cooperation as an act of historic reconciliation.
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There are partnerships based on principle. There are partnerships based on pragmatism. And fortunately, when it comes to Indo-American relations, both concentrations find a new robust phase of relationship, a multi-fasted relationship which I believe exists in the interests of both our countries.
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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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My top most priority is to deal with India's massive social and economic problems, so that chronic poverty, ignorance and disease can be conquered in a reasonably short period of time.
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My vision is to work for the relationship between India and Pakistan which would be like the relation between Canada and the United States.
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Pakistan should be a moderate Islamic state. That it should be a prosperous country is in India's interests, and it is in the world's interests.
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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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India happens to be a rich country inhabited by very poor people.
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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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In a world in which technology is changing at such a fast pace, where demand conditions change very fast, we need to look at a more innovative mechanism to cut down on this rigmarole of many tiers of decision-making processes.
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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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We are a coalition government, and that limits our options in some ways. Privatization happens to be one such area.
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India's saving rate will go up. India's investment rate will go up. And I believe that's a plus point.
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