What are the key reforms initiated by former PM Manmohan Singh
Identify and explain the key reforms initiated by former PM Manmohan Singh.
During his tenure as the Prime Minister of India, Manmohan Singh initiated several key reforms to boost economic growth and development. Here are some of the key reforms:
- Liberalization of the economy: Singh continued the process of economic liberalization started in the 1990s, promoting foreign investment and trade.
- National Rural Employment Guarantee Act (NREGA): A landmark social welfare scheme, NREGA aimed to provide employment opportunities to rural households.
- Goods and Services Tax (GST): Singh introduced the GST, a unified tax system that simplified taxation and improved compliance.
- Financial sector reforms: Singh introduced measures to strengthen banking regulations and improve financial inclusion.
- Infrastructure development: Singh focused on improving infrastructure in sectors like transport, energy, and telecommunications to support economic growth.
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