Dr. Manmohan Singh’s 1991-92 Budget speech marked the beginning of the end of the ‘Licence Raj’ in India. The Budget also announced the reduction of import duties and paved the way for foreign-manufactured goods to flow into India.
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Unknown titleForce soldiers stitch personal protective equipment suits for health workers in New Delhi. AP The virus reveals how dependence on private sector-led economic growth has proved to be disastrous <span>Dr. Manmohan Singh’s 1991-92 Budget speech marked the beginning of the end of the ‘Licence Raj’ in India. The Budget also announced the reduction of import duties and paved the way for foreign-manufactured goods to flow into India. Following this, most of the manufacturing sector was opened up to foreign direct investment. India’s industrial policy was virtually junked, and policymakers and the political leadershi Summary
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