<h1>Chief Minister credits former PM's 1991 economic reforms for transforming India from socialist model to current success</h1> A Chief Minister praised a former Prime Minister's economic reforms during a lecture on his legacy. The speaker highlighted how the leader transformed India's economy in 1991 during a major crisis when foreign exchange reserves were critically low and gold had to be pledged. Despite heading a minority government, the former PM successfully implemented bold economic reforms that moved India away from the socialist model and license raj system. The Chief Minister credited these 1991 reforms as foundational to India's current economic success, noting that subsequent leaders built upon this foundation. He expressed confidence that India will become the world's third-largest economy by 2028 and the largest by 2047.