When I became finance minister in 1991, I discovered that the wealth tax rates income - there was taxation on wealth. It was so atrocious and so high that actually nobody could accumulate money in an honest way. I removed that tax, and the result was that Indian companies for the first time acquired an incentive to grow big, to grow rich.
Manmohan SinghJawaharlal Nehru wanted India to develop close ties with China and learn from its experience.
Manmohan SinghI have to create in India a macroeconomic environment where the employment in aggregate can go up at a handsome rate. Once that happens, people losing jobs in one sector will not mean that they will become perpetually unemployed. From one sector, they can move on to other sectors.
Manmohan SinghThe Chinese economy is growing at the rate of 9 percent; the Indian economy growing at the rate of 8 percent - enormous I think opportunities for two-way flow of trade, technology and investment.
Manmohan Singh