The power of economic reform

Nepali economy can learn a lot from the reform and growth of the Indian economy.

Former Indian Prime Minister Manmohan Singh, known as the ‘ reforms man ’, died last Thursday. He was a key architect of India’s economic liberalisation as finance minister from 1991 to 1996. Indian and global media have flooded their stories with his major policy reforms that rescued the Indian economy from the brink of collapse in 1991, lifted millions from abject poverty, and transformed India into a global economic powerhouse, which is aiming to be the third-largest economy within the next few years. According to The BBC , Singh changed the country’s growth trajectory during his two consecutive terms as prime minister between 2004 and 2014.