Manmohan Singh Death:(*9*) The country’s former Prime Minister Dr. Manmohan Singh, who gave a brand new path to India’s economic system and financial insurance policies, died on Thursday evening at the age of 92. Let us let you know at the moment on this information that when Dr. Manmohan Singh was the Prime Minister of the nation, what was the financial situation of the nation and what was the GDP growth rate.
golden age of economic system(*9*)
This is from the yr 2004. The nation had a brand new Prime Minister, Dr. Manmohan Singh. Earlier the nation had seen Manmohan Singh as an excellent Finance Minister. But now the time had come when the nation would see Dr. Manmohan Singh working as PM. In this UPA authorities, PM was Manmohan Singh and Finance Minister was P. Chidambaram.
It is believed that the approach the nation took the path of improvement between 2004 and 2007 was by no means seen once more. This interval was so good that it was thought-about the golden age of the Indian economic system. In 2007, India achieved a historic GDP growth rate of 8 to 9 % and have become the second quickest rising economic system in the world.
VAT system began(*9*)
In the yr 2005, when Dr. Manmohan Singh got here to know that the country’s industries have been being affected due to the outdated advanced gross sales tax system, he began the system of VAT i.e. Value Added Tax in the nation. This ended the outdated advanced gross sales tax system. Similarly, to scale back the tax burden on industries, Dr. Manmohan Singh had additionally began the system of service tax, due to which there was no loss to the authorities income. National Rural (*8*) Guarantee i.e. NREGA was began throughout the tenure of Dr. Manmohan Singh as Prime Minister, which is now often known as MNREGA.
Also learn: Manmohan Singh Death: ‘An individual who works as a substitute of phrases’, Mallikarjun Kharge will get emotional on the demise of former PM Manmohan Singh.(*9*)
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