On this day in 1991, MANMOHAN SINGH addressed the Parliament and the nation with his first #budget speech as Finance Minister and lifted the ECONOMIC RESTRICTIONS under #LicenseRaj. His words conveyed a deep sense of crisis:
"There is no time to lose. Neither the Government nor the economy can live beyond its means year after year. The room for maneuver, to live on borrowed money or time, does not exist any more."
Read more about the 1991 reforms a #IndiaBefore91t: http://indiabefore91.in/
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