Trump threatening to pull the trigger might be just what is needed to wake up India’s self-congratulatory establishment from its headline-managing fantasies.
In 1991, as in 2025, the report cards of these two economic trajectories remain underwhelming. But as economists see it, politics got in the way each time.
Manmohan Singh’s success lay in making a decisive and historic shift towards the West. It was also audacious, in my book even more so than the 1991 reform, given how little support it had within Congress and UPA.
There are 3 perfectly timed triggers for this week's column: old, povertarian instincts are back; steel industry lobbying for more import duties; absence of reformers like AD Shroff.
On 24 July 1991, finance minister Manmohan Singh presented the Union Budget for 1991-92 that changed the course of Indian economy. In his Lok Sabha speech, he quoted Victor Hugo to say, 'no power on earth can stop an idea whose time has come.'
Manish Sabharwal blames regulatory hurdles, lack of human capital development, and failure to transition from farm to non-farm sectors for India’s slower economic growth compared to China.
On 9 July 1991, then-PM PV Narasimha Rao addressed the nation days before the Budget presentation, admitting that the job of repairing India's sick economy won't be easy, quick, or smooth.
The whole truth regarding the 1991 reforms is that India was in the process of revamping its industrial and trade policies from the last years of Rajiv Gandhi’s tenure.
I was surprised when Andhra Pradesh minister Nara Lokesh and Deputy Chief Minister Pawan Kalyan advocated for Hindi—at a time when states like Tamil Nadu and Karnataka are opposing its imposition.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
BJP has no dynastic succession, at least not at the top. You can trace this back to Vajpayee-Advani era. This act of spotting, empowering younger talent is even more striking with the choice of BJP presidents.
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