On 24th July, India completed 30 years of economic reforms which were initiated by our former PM, PV Narsimha Rao, in July 1991. Those reforms put and end to license Permit Raj and promoted greater private ownership of enterprises. It helped to boost the productivity of the Indian economy and gradually, India transformed from an economy of scarcity to an economy which is currently confident about its present and future.
It didn't happen overnight and there were some useful contribution from our former PM, Atal Bihari Vajpayee who made important contribution in infra building that led greater industrialization. However, it would be honest to admit that the leaders since 2004 till 2021 have lacked courage and wisdom and have deliberately slowed the pace of economic reforms.
India is still far away from its true potential and a long road lies ahead of us and it would be in the interest of the country to strengthen economic reforms so that we can fulfil the aspirations of its people. Our per capita income is just a fifth of China currently, when we were at the same level in 1980. The type of politics and the corrupt politicians have betrayed us in our pursuit of prosperity and that is one area that needs to change for the betterment of nation!
