📷 Image: Wikimedia Commons / World Economic Forum
Politics
Chidambaram Says Current Regulations Worse Than 1991, No Manmohan Singh to Rescue Economy
✍️ India Today
🗓 21 Aug 2026, 11:42 PM
👁 9
Former Finance Minister P. Chidambaram warned that today’s regulatory framework is harsher than that of 1991 and that there is no Manmohan Singh left to steer the economy out of trouble.
Former Finance Minister P. Chidambaram criticised the present regulatory environment, stating that it is more restrictive than the framework that existed in 1991. He argued that the current rules are impeding growth and adding unnecessary burdens on businesses.
Chidambaram also noted the absence of a figure like former Finance Minister Manmohan Singh, who had previously guided the economy through challenging periods. According to him, without such leadership, navigating the present economic headwinds will be difficult.
The remarks were made during a recent interview with India Today, where Chidambaram highlighted the need for policy reforms to revive investment and confidence. He called for a review of the existing regulations to make them more conducive to growth.
Economists have observed that regulatory rigidity can deter both domestic and foreign investors, a concern echoed by Chidambaram. The former minister urged the government to adopt a more business-friendly approach to sustain economic momentum.
No official response from the government has been recorded at the time of reporting.
Chidambaram also noted the absence of a figure like former Finance Minister Manmohan Singh, who had previously guided the economy through challenging periods. According to him, without such leadership, navigating the present economic headwinds will be difficult.
The remarks were made during a recent interview with India Today, where Chidambaram highlighted the need for policy reforms to revive investment and confidence. He called for a review of the existing regulations to make them more conducive to growth.
Economists have observed that regulatory rigidity can deter both domestic and foreign investors, a concern echoed by Chidambaram. The former minister urged the government to adopt a more business-friendly approach to sustain economic momentum.
No official response from the government has been recorded at the time of reporting.