Dr Manmohan Singh, the economist-turned-statesman who reshaped India’s economic and political destiny, leaves behind a legacy that few leaders can match. As India mourns the passing of its 14th Prime Minister at the age of 92, it is time to reflect on the profound contributions of a man who steered the nation from the brink of financial disaster to its emergence as a global economic powerhouse.
When Dr Manmohan Singh assumed the role of finance minister in 1991, India was grappling with one of its worst economic crises. Foreign exchange reserves were perilously low, barely enough to sustain a few weeks of imports. Inflation was soaring, and the country faced the ignominy of pledging gold to stave off default. In this dire scenario, Dr Singh, supported by Prime Minister PV Narasimha Rao, introduced a sweeping programme of liberalisation, privatisation, and globalisation.
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His first budget speech became a watershed moment in India’s economic history. Quoting Victor Hugo, he declared, “No power on earth can stop an idea whose time has come.” With those words, he ushered in reforms that dismantled the infamous Licence Raj, opened the economy to foreign investments, devalued the rupee to boost exports, and encouraged private sector growth. These reforms not only stabilised the economy but also set the stage for decades of high growth, industrial expansion, and job creation.
A prime minister with a vision for inclusive growth
As prime minister from 2004 to 2014, Dr Singh oversaw a period of remarkable economic growth, with India’s GDP expanding at an average of 7-8% annually. However, his tenure was not just about economic numbers. He prioritised inclusive growth, initiating transformative policies that directly impacted the lives of millions. The Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) provided livelihood security to rural households, while the Right to Education Act made elementary education a fundamental right for every child.
Dr Singh also championed social equity and transparency. The Right to Information Act, introduced during his tenure, empowered citizens to hold the government accountable. His government’s flagship Aadhaar project, aimed at providing unique identification to every citizen, laid the foundation for a more targeted and efficient delivery of welfare benefits.
A consensus builder in difficult times
Dr Singh’s ability to negotiate India’s complex political situation was unmatched. He led a coalition government comprising diverse and often conflicting interests, yet he consistently managed to find common ground. His diplomatic acumen shone through in his foreign policy initiatives. The India-US Civil Nuclear Agreement, signed during his first term, ended India’s nuclear isolation and showcased his ability to take bold decisions in the face of significant opposition.
His approach to international relations was pragmatic and forward-looking. He worked to strengthen ties with the United States, fostered dialogue with Pakistan, and reopened the Nathu La Pass with China, reviving trade routes after decades of closure. Under his leadership, India also extended significant support to Afghanistan, reinforcing its commitment to regional stability.
Manmohan Singh: The silent reformer
Known for his soft-spoken demeanour and understated style, Dr Singh’s leadership was remarkable for his quiet strength. He often let his work speak louder than his words, earning him the reputation of a silent reformer. Critics who labelled him weak underestimated his resolve. Whether it was standing firm on the nuclear deal or defending his government’s economic policies during turbulent times, Dr Singh always placed national interest above personal or political considerations.
Dr Singh’s legacy is one of integrity, intellect, and dedication to public service. A Cambridge and Oxford-trained economist, he brought unparalleled expertise to every role he held, from serving as the Governor of the Reserve Bank of India to leading the nation as its Prime Minister. Despite facing criticism during his second term, including allegations of corruption within his administration, his personal integrity remained unblemished.
Reforms that transformed India
Dr Singh’s economic reforms not only stabilised India’s economy but also integrated it with the global market. Under his stewardship, India transitioned from an inward-looking economy to a confident global player. His emphasis on trade liberalisation, foreign direct investment, and financial sector reforms laid the groundwork for India’s current standing as one of the world’s largest economies.
The information technology boom that catapulted India onto the global stage can also trace its roots to the policies initiated during his tenure. By creating an environment conducive to innovation and entrepreneurship, Dr Singh enabled industries like software, pharmaceuticals, and telecom to thrive, generating employment and elevating India’s stature internationally.
A life dedicated to public service
Born in a small village in Punjab, now in Pakistan, Dr Singh’s journey from humble beginnings to the highest office in the country is nothing short of inspirational. His personal life reflected the same simplicity and discipline he brought to public service. A man of few words, he remained deeply committed to improving the lives of ordinary Indians, even in his later years as a senior statesman
Dr Manmohan Singh’s contributions to India’s rise as a global economic power and his vision for a more inclusive and equitable society will be remembered for generations. As a leader, he embodied humility, wisdom, and dedication, leaving behind a legacy that continues to inspire.
India has lost a statesman of unparalleled intellect and integrity, but his ideas and achievements will guide the nation’s path forward. Rest in peace, Dr Singh. The nation you served so selflessly will always remember you as one of its greatest sons.