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I think whatever I've done, I hope I've earned a footnote in India's long and tortuous history.
Manmohan Singh
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Manmohan Singh
Age: 92
Born: 1932
Born: September 26
Banker
Civil Servant
Economist
Politician
Prime Minister Of India
Done
Tortuous
Long
Footnote
Think
Footnotes
Thinking
Earned
India
Whatever
Hope
History
More quotes by Manmohan Singh
Democracies don't go to war.
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[Urbanization] is the inevitable outcome of the processes of growth and the processes of modernization.
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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 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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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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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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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.
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I look upon India-U.S. nuclear cooperation as an act of historic reconciliation.
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We should put more money in health. We should put more money in devising credible social safety nets for the poor.
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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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Economic policy and decision making do not function in a political vacuum.
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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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China is very important. The future growth of China, China's influence is bound to rise.
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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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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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We are a coalition government, and that limits our options in some ways. Privatization happens to be one such area.
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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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India happens to be a rich country inhabited by very poor people.
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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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I should like to express our profound gratitude to the Americans of Indian origin. The way they have conducted themselves, the way they have worked hard to carve out a niche for themselves in the Silicon Valley, I think this has also given America a new idea about what India is capable of.
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