Meanwhile, Manmohan Singh feels economic reforms is incomplete

BENGALURU:  Manmohan Singh is of the view that economic reforms process he was linked with was “still incomplete” and that a “fresh thinking” was the order of the day in order to evolve a new design for the country’s social and economic policy.

Point to be noted here is that the policy should be a judicious mix of both high rate of economic growth and a strong focus on containing economic inequalities, said Singh, considered the architect of the economic liberalisation measures unleashed in 1991.

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“Development planning and the Planning Commission were designed to ensure that while our economy grew, inequalities did not grow. With the abolition of the Planning Commission fresh efforts have to be made to keep inequality under control,” he said.

“I must confess that the process is still incomplete and we need a lot of fresh thinking to work out a new design for our social and economic policy which will be a judicious mix of both high rate of economic growth and a strong focus on containing the growth of economic inequalities, and working actively to reduce so,” he said.

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Manmohan Singh expressed hope that the scholars coming out of the institution will make a “distinguished contribution in working out a new design of our social and economic policies for a cohesive and inclusive growth.”