Wednesday, May 19, 2004

From the Future PM of India

INTERVIEWER: For a non-economist, non-Indian audience, what was the key change you made here?

MANMOHAN SINGH: We got government off the backs of the people of India, particularly off the backs of India's entrepreneurs. We introduced more competition, both internal competition and external competition. We simplified and rationalized the tax system. We made risk-taking much more attractive... [and] much more profitable. So we tried to create an environment conducive to the growth of business.