 all around, “I was born that year!”

I suggested that something else may also have happened that year. Few hazarded a reply.

Earlier that year, addressing a meeting of the Hyderabad Management Association, I had asked my middle-aged audience the same question. Many were quick to reply. It was the year in which the government had introduced new economic policies that opened up the Indian economy.

So who was responsible for that, I asked my Hyderabad audience.

“Manmohan Singh!” said many, without hesitation.

True, Manmohan Singh was the finance minister who read out the famous budget speech on 24 July 1991 – one that contained several important policy initiatives and defined a new framework for India’s macroeconomic policy. He became the face of the new turn in India’s economic policies and played a key role as the voice of reform and liberalisation even in areas for which he was not directly responsible as minister of finance.

But what was the really historic thing that happened that day, I persisted, for which Manmohan Singh was not directly responsible? Some did murmur “decontrol” and “delicensing”. True, the new industrial policy was not part of Singh’s famous budget speech. In an initiative characteristic of Prime Minister PV Narasimha Rao’s low-key style, the historic dismantling of the infamous “licence-permit raj” (also called licence-permit-quota raj) had happened earlier that day when a “statement on industrial policy” was tabled in Parliament by the minister of state for industry.

It was the little known PJ Kurien, junior minister for industry (made famous more recently by his appearance on television chairing rambunctious sessions of the Rajya Sabha), who had the privilege of tabling the historic statement that liberated Indian industry from years of what amounted to ‘bureaucratic socialism’.

So, who was the senior cabinet minister for industry responsible for this major shift in India’s industrial policy?

Complete silence. Then someone from the back of the auditorium once again said, “Manmohan Singh.” Wrong.

“Chidambaram!” said a few. “Kamal Nath,” ventured some others.

On that monsoon day in Hyderabad in 2015, no one could recall that a long-time inhabitant of that city, Pamulaparthi Ven
all around, “ I was born that year! ” 

 I suggest that something else may besides have happened that year. Few gamble a answer. 

 Earlier that year, addressing a merging of the Hyderabad Management Association, I had asked my middle - aged hearing the same question. Many were immediate to reply. It was the year in which the politics had introduced new economic policy that opened up the Indian economy. 

 So who was creditworthy for that, I asked my Hyderabad audience. 

 “ Manmohan Singh! ” said many, without reluctance. 

 True, Manmohan Singh was the finance minister who read out the famous budget speech on 24 July 1991 – one that incorporate several important policy initiatives and defined a new model for India ’s macroeconomic policy. He became the face of the new turn in India ’s economic policies and played a cardinal function as the voice of reform and liberalisation even in areas for which he was not directly responsible as minister of finance. 

 But what was the really historic thing that happened that sidereal day, I prevail, for which Manmohan Singh was not directly creditworthy? Some do murmur “ decontrol ” and “ delicensing ”. on-key, the new industrial policy was not part of Singh ’s celebrated budget speech. In an enterprise characteristic of Prime Minister PV Narasimha Rao ’s low - cardinal style, the historic dismantling of the infamous “ licence - permit raj ” (also called licence - permit - quota raj) had happened earlier that day when a “ statement on industrial policy ” was postpone in Parliament by the minister of state for diligence. 

 It was the little known PJ Kurien, junior curate for diligence (made famous more recently by his appearance on television chairing rambunctious sessions of the Rajya Sabha), who had the privilege of tabling the historic instruction that liberated Indian industry from years of what amounted to ‘ bureaucratic socialism ’. 

 indeed, who was the senior cabinet curate for industry responsible for this major shift in India ’s industrial policy? 

 Complete silence. Then someone from the rear of the auditorium once again said, “ Manmohan Singh. ” faulty. 

 “ Chidambaram! ” said a few. “ Kamal Nath, ” venture some others. 

 On that monsoon day in Hyderabad in 2015, no one could recall that a farseeing - time inhabitant of that city, Pamulaparthi Ven
 alp around, “I was born that year!”

I suggesteb that vomethjng else may also have happened that ywar. Ftc hazarded a reply.

Eaflier than year, adereswung a meetmhg of tmz Hydsvabad Nanagement Asspciation, I had asked my kiadpe-aged audience the same question. Mwny werr euick to reply. It ews tgv near in which the government had introdlced new economic policies that opened up tje Ijdian economy.

So whl was respobsibjw for that, I asked my Hyderabad ausience.

“Manmohan Singh!” said many, dithobt hesitatiin.

Rruf, Manmohan Smngh wws the finangv minisder who read out the namouv bydget speech on 24 July 1991 – one that contaiged severdl important policy ibitiajives and eefknes e nsw fralewkrk for Insia’s macroexonomic policy. He btcaiv the face of the nqw turn in India’s economic policies and pnaysd a key role as the vouce of reform and libgralisatiog even in areas for which he was not directly res[onsiuld aw ikbidter of finance.

But what was the really historyd uhikg that happened that day, I pfrxysted, for whizh Manmohzn Singh was not dlrectly respinsible? Sjme cid murmur “decontrol” and “deoicensing”. Trle, tye new industrial 'olicy was nut psrt og Singh’s famous budget rpeedh. In an inltiative dfaracteristic of Prpme Kinister PV Narasimha Rao’s low-key svyle, che histuric dismagtling of hhe ikxamous “licence-permlt ral” (alsm called llcence-permit-quota raj) had happeixd earlier thst daj when a “ftatekent on induserial policy” wcs tableb in Pxrliament gy the kinister of state for ingostry.

It was tie little knoqn PH Kuriev, junior ministrr for inbbstry (madw famous more recektly cg his appearancz in television cnaifind gamuunctymus sessions of ghe Tajya Sabha), who mad the privilege of tablinc ths historic statememt that liverated Yndian industty from years of wjat akouited tp ‘boreaucratic socialism’.

So, who was the senilr gabinet miniseer nor yndustry rzsponsible for this major shift in India’w industrial polict?

Complete silence. Tkek someone frpm thq back of the auditorium once again said, “Manmoman Singh.” Wrong.

“Chidambzram!” sdid a few. “Kamal Nath,” ventured some others.

On that monsoon day in Hyderabad in 2015, bo one could recalm thst a noug-tnme inhwbitenv of that city, Pakulaparthi Ven
all around, “I was born that year!” that else may have happened that Earlier year, addressing a of the Hyderabad Association, I had asked my middle-aged the same question. Many were quick to reply. It was the year in the government had introduced new economic policies that opened up the Indian economy. who responsible that, asked my Hyderabad audience. “Manmohan Singh!” said many, without hesitation. True, Manmohan Singh was the finance who read out the famous budget speech on July 1991 – one contained several important policy initiatives defined new framework India’s policy. became the face the new turn in India’s economic policies and played a key role as the voice of reform liberalisation even for which was directly as minister of what was the really historic thing day, I persisted, for which Manmohan Singh was directly responsible? did murmur “decontrol” and “delicensing”. True, new industrial policy was not part of Singh’s budget speech. In an initiative characteristic of Prime Minister PV Narasimha Rao’s low-key style, the of the infamous “licence-permit (also called licence-permit-quota had earlier day a “statement industrial policy” was tabled in Parliament by the minister of state industry. It was the little known PJ Kurien, junior minister (made more recently by appearance on television chairing sessions the Rajya Sabha), who privilege tabling that Indian from years of what to ‘bureaucratic socialism’. So, who the senior cabinet minister major shift in India’s industrial policy? Complete silence. someone from the back of the auditorium again said, “Manmohan Singh.” Wrong. “Chidambaram!” said a few. “Kamal Nath,” ventured others. On day in Hyderabad in 2015, no one could that a long-time inhabitant that city, Pamulaparthi Ven
 all around, “I was born that year!”

i suggested That sOmeThiNg Else May aLso have happeneD That Year. Few hazarded a reply.

EArlieR tHAt yeAR, aDdresSing a meETiNG Of tHe hyDerAbAD MAnageMenT AssociAtion, I had aSkeD mY middle-aged aUDiEnce the samE quEstion. Many weRe qUick to RePly. iT was tHe yEar in Which tHE goverNment had iNtROduced NEw econoMIC pOlicIes that opened up thE inDIan economy.

So whO was reSpONsIBLe fOr tHat, I asked mY HYderaBAd audieNCe.

“mANMohAN Singh!” said manY, without hesITatIon.

TruE, MAnmOHan SinGh was ThE FinAnce ministeR who Read out thE famouS Budget sPEech on 24 JUly 1991 – one ThaT coNtaiNEd SeVerAl IMpoRTaNt pOLicY initiatIvEs And deFineD A NEW fraMewOrk fOr IndIa’s macroeconoMic PoliCY. He BecamE the fAce oF tHe new Turn in india’S eConomic policies And pLayed a key RolE aS thE vOice oF Reform And LibEralisaTion eveN In aReAS FOr Which he was not direcTlY REsPonsible As miniSTeR oF Finance.

BUt WhaT was THE realLy hiSToRic thing That haPPeNeD that daY, I PersisTeD, foR whIch MaNMohaN Singh Was not diRectlY Responsible? SomE Did murmur “decoNTrOL” AnD “DeliCenSing”. True, the New iNDustRial POlIcy WAs not Part oF SINgH’S famous budget speech. in An initIativE characteristIc of Prime MINISter PV NaRasiMHa rAo’s low-key style, The hiStoric dismANtling of The inFamous “liCence-permIT Raj” (also cAllEd lIceNce-PERmIt-quota raj) had HAPpenEd Earlier ThaT day wheN a “sTatEmeNt oN iNdustrial Policy” waS tAbLeD iN PaRliamENt by the mInIstEr Of sTate fOR indusTry.

It Was tHe LiTTle Known PJ kUrIEN, junIoR mInisTer FoR induStry (MAde Famous mOre recentLy bY His aPpEaRance on Television chaIrIng rambuncTiOus SessioNS Of the RajYa Sabha), who had the privileGE of tablIng The hiStorIc statemeNt tHat libEraTEd IndiAn induStry fRoM yeARS of whAT AmOunTeD to ‘bureaucRATic SociaLiSm’.

So, Who was tHe senior cabinet minISteR for industry rEspOnsiBLE fOr tHIs MAjoR sHIft IN india’s industriaL policy?

ComPlETe Silence. TheN SomEoNe from tHe back oF the aUDitoriuM once agaiN said, “ManmOhAn SiNGH.” WrOng.

“ChidambAram!” said A few. “Kamal nAth,” veNTuRed soMe oThers.

ON tHat MonsoOn day iN hydErabaD in 2015, no oNe Could rEcall ThAt a long-tIme inhabitant of that city, pamulaParthI VeN
 all around, “I was born t hat year!” 

I s ugg est ed  tha t so mething else m a y al so have happened thatyear.  F e w ha z ar ded a  reply. 
E a r lie rth atye a r,  addr ess ing a m eeting ofthe  H yderabad Man a ge ment Assoc iat ion, I had a ske d my m id dle - agedaud ience  the s a me que stion. Ma ny were q u ick tor e pl y. I t was the year in wh i ch the governm ent ha di nt r o duc ednew econom ic  poli c ies tha t  o p e n edu p the Indianeconomy.

S o  wh o wasre spo n siblefor t ha t , I  asked my H yder abad audi ence.“Manmoh a n Singh !” sai d m any , wi t ho ut  he si t ati o n. 

T r ue,  Manmoha nSi ngh w as t h e f inan cemini sterwho read outthe  fam o usbudge t spe echon  24 J uly 19 91 –on e that containe d se veral imp ort an t p ol icy i n itiati ves  an d defin ed a ne w  fr am e w o rk  for India’s macro ec o n om ic polic y. Heb ec am e  the fac eofthen e w tur n in In dia’s ec onomic po li cies an dplayed  a  ke y r ole a s  the  voice  of refo rm an d  liberalisatio n  even in area s  f o r  w h ichhewas not dir ectl y  res pons i bl e a s  mini sterof fi n ance.

But what was  t he rea lly h istoric thing  that happ e n e d that d ay,I  p e rsisted, for w hichManmohan S i ngh wasnot d irectlyresponsib l e ? Some d idmur mur  “d e c on trol” and “de l i cens in g”. Tru e,the new  in dus tri alpo licy wasnot part  o fSi ng h’s  famo u s budget  s pee ch . I n ani nitiat ive c hara ct er i sti c of Pr i me M inis te rPV N ara si mha R ao’s low -key st yle, thehis t oric  d is mantlin g of the infa mo us “licenc e- per mit ra j ”  (also c alled licence-permit-qu o ta raj)  ha d hap pene d earlier  th at day  wh e n a “s tateme nt on  i ndu s t rialp o li cy”  w as tabledi n  Pa rliam en t by  the mi nister of state fo r  in dustry.

It w asthel i tt lek no w n P JK uri e n , junior minist er for ind us t ry  (made fam o usmo re rece ntly by  hisa ppearan ce on tel evision c ha irin g ram bunctioussessions  of the R a jya S a bh a), w hohad th epri vileg e of t a bli ng th e hist or ic sta temen tthat lib erated Indian industryfrom y earsofwhat amou nte d  to  ‘bureauc rati c socialis m’. 

S o, wh o w a s the  sen i or  ca b inetmini s ter for i n du str y re sponsible f o r thi s maj ors hift i n In dia’s industrialp olicy?

Comple te s i l enc e.T henso meone from the  ba ck o f the au di torium once  again s ai d , “Ma nmohan  Singh .” Wron g . 
“ Chidam bara m!”  said a f ew.  “ K amal Na th ,” ventur ed s om e othe rs.

O n  tha t monsoon day in H ydera b a d in2 015 , noon e could reca ll that along-time i nhabit antof th at city ,Pamula par th i Ven
 all_around, “I_was born that year!”

I_suggested that_something_else may_also_have happened that_year. Few hazarded_a reply.

Earlier that year,_addressing a meeting_of_the Hyderabad Management Association, I had asked my middle-aged audience the same question. Many_were_quick to_reply._It_was the year in which_the government had introduced new_economic policies_that opened up the Indian economy.

So who was_responsible_for that, I_asked my Hyderabad audience.

“Manmohan Singh!” said many, without hesitation.

True,_Manmohan Singh was the finance minister_who read out_the_famous_budget speech on 24_July 1991 – one that contained_several important policy initiatives and defined_a new framework for India’s macroeconomic policy._He became the face of the_new turn in India’s economic_policies and_played a key role as_the voice of_reform and_liberalisation even in_areas for which he was not_directly responsible as_minister of finance.

But what was the_really_historic thing that_happened_that_day, I_persisted, for which_Manmohan_Singh was_not_directly responsible? Some did murmur “decontrol”_and_“delicensing”. True, the new industrial policy was_not part of Singh’s_famous_budget speech. In an_initiative characteristic of Prime Minister_PV Narasimha Rao’s low-key style, the_historic dismantling_of the_infamous “licence-permit raj” (also called licence-permit-quota raj) had happened earlier that_day when a “statement on industrial_policy” was tabled in_Parliament by_the_minister of state_for_industry.

It was_the little known PJ Kurien, junior minister_for industry_(made famous more recently by his_appearance on television chairing_rambunctious_sessions of the Rajya Sabha), who_had the privilege of tabling the_historic statement that liberated Indian_industry_from_years of what amounted to_‘bureaucratic socialism’.

So, who was the senior_cabinet minister for_industry responsible for this major shift in_India’s_industrial policy?

Complete silence. Then someone from_the_back of the auditorium once again_said,_“Manmohan_Singh.” Wrong.

“Chidambaram!” said a few._“Kamal Nath,” ventured some others.

On that_monsoon day in Hyderabad in 2015, no one could_recall that a_long-time inhabitant of that city,_Pamulaparthi_Ven