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Reforms by Dr. Manmohan Singh

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  • 1991
    • India gave gold to raise the foreign currency reserves.
  • 1991-92
    • Quantitative import restrictions removed .
  • 1992
    • SEBI has been created as statutory body
  • 1993-94
    • RBI has granted licenses to 10 private sector banks
  • 1995
    • Allowed banks to fix interest rates on domestic term deposits.
  • 2005
    • The act on the Right to Information came into existence to enhance transparency.
    • The Mahatma Gandhi National Rural Employment Guarantee Act, 2005, is a landmark legislation aimed at providing livelihood security to rural households by guaranteeing at least 100 days of wage employment annually.
  • 2008
    • Singh’s leadership was pivotal in securing the India-US civil nuclear deal, announced in 2005 and finalized in 2008. 
  • 2009
    • The Right to Education Act came into passage, which demanded free and compulsory education as a fundamental Right.
  • 2010
    • Unique Identification Authority of India (UIDAI) launched the Aadhaar initiative for better service delivery.
  • 2012
    • Tremendously increased limits of Foreign Direct Investment.
  • 2013
    • Direct Benefit Transfer (DBT) for cash transfers.
  • 2013
    • Food Security Act enacted on subsidised food grains.
  • 2013
    • Companies Act, 2013 passed to improve corporate governance standards.

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