"Now is the time to" or "Now is time to" – Which is correct?

Question

Which of the following two phrases is correct?

Now is the time to
Now is time to

Or are both of them correct? And if so is "Now is the time to" more formal?

Answer 1

Now is the time to

is correct.

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Compare it to something like this:

Tomorrow is the day to

or

Tomorrow is day to

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Although, you could edit the second option to:

Now it is time to