Congress president Mallikarjun Kharge on Wednesday said his party takes immense pride in the groundbreaking achievement of the Liberalisation Budget of 1991, and asserted that there is a pressing need once again for meaningful and robust second-generation reforms.

In a post on X, Kharge said July 1991 marked a watershed moment in India's history as the Liberalisation Budget, spearheaded by then Prime Minister P V Narasimha Rao and Finance Minister Manmohan Singh, ushered in a new era of economic reforms.

This visionary move revolutionised the country, empowering the middle class and uplifting millions from poverty and marginalisation, he said.

"The Congress party takes immense pride in this groundbreaking achievement, which catalysed India's growth trajectory and continues to inspire progress and prosperity," Kharge said.

"Today, once again, there is a pressing need for meaningful, robust second generation reforms, which help both the middle class and the deprived," he said.

Congress general secretary in-charge communications Jairam Ramesh said that today, 33 years ago, then Finance Minister Manmohan Singh presented his first Budget that took India into a whole new world.

"Today, 33 years ago, was also the day when the New Industrial Policy was unveiled, which catalysed the economic transformation of India anchored in the philosophy of Continuity with Change. I have written of the events of July 24th 1991 and the background to them in To the Brink and Back: India's 1991 Story," Ramesh said in a post on X.

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