Manmohan Singh, India’s Economic Architect, Dies Aged 92
Photo: Instagram/INCIndia
NEW DELHI (Reuters/ANI/India-West News Desk) – Described as a “reluctant king” in his first stint as prime minister, the quietly spoken Manmohan Singh was arguably one of India’s most successful leaders.
The first Sikh in office, Singh, 92, was being treated for age-related medical conditions and died after he was brought to hospital after a sudden loss of consciousness on December 26.
He is credited with steering India to unprecedented economic growth and lifting hundreds of millions out of dire poverty. He went on to serve a rare second term.
Born into a poor family in a part of British-ruled India now in Pakistan, Manmohan Singh studied by candlelight to win a place at Cambridge University before heading to Oxford, earning a doctorate with a thesis on the role of exports and free trade in India’s economy.
He became a respected economist, then India’s central bank governor and a government advisor but had no apparent plans for a political career when he was suddenly tapped to become finance minister in 1991.
During that tenure to 1996, Manmohan Singh was the architect of reforms that saved India’s economy from a severe balance of payments crisis, promoted deregulation and other measures that opened an insular country to the world.
Famously quoting Victor Hugo in his maiden budget speech, he said: “No power on earth can stop an idea whose time has come,” before adding: “The emergence of India as a major economic power in the world happens to be one such idea.”
Singh’s ascension to prime minister in 2004 was even more unexpected.
He was asked to take on the job by Sonia Gandhi, who led the center-left Congress party to a surprise victory. Italian by birth, she feared her ancestry would be used by Hindu-nationalist opponents to attack the government if she were to lead the country.
Riding an unprecedented period of economic growth, Singh’s government shared the spoils of the country’s newfound wealth, introducing welfare schemes such as a jobs program for the rural poor.
In 2008, his government also clinched a landmark deal that permitted peaceful trade in nuclear energy with the United States for the first time in three decades, paving the way for strong relations between New Delhi and Washington.
But his efforts to further open the Indian economy were frequently frustrated by political wrangling within his own party and demands made by coalition partners.
History Will Be Kinder
And while he was widely respected by other world leaders, at home Manmohan Singh always had to fend off the perception that Sonia Gandhi was the real power in the government.
The widow of former prime minister Rajiv Gandhi, whose family has dominated Indian politics since independence from Britain in 1947, she remained Congress party leader and often made key decisions.
Known for his simple lifestyle and with a reputation for honesty, Singh was not personally seen as corrupt. But he came under attack for failing to crack down on members of his government as a series of scandals erupted in his second term, triggering mass protests.
The latter years of his premiership saw India’s growth story, which he had helped engineer, wobble as global economic turbulence and slow government decision-making battered investment sentiment.
In 2012, his government was tipped into a minority after the Congress party’s biggest ally quit their coalition in protest at the entry of foreign supermarkets.
Two years later Congress was decisively swept aside by the Bharatiya Janata Party under Narendra Modi, a strongman who promised to end the economic standstill, clean up graft and bring inclusive growth to the hinterlands.
But at a press conference just months before he left the office, Manmohan Singh insisted he had done the best he could.
“I honestly believe that history will be kinder to me than the contemporary media or, for that matter, the opposition parties in parliament,” he said.
Singh survives by his wife Gurucharan and three daughters.
National Mourning
India, at the time of publishing, was expected to announce national mourning of seven days. The Congress party has already announced the suspension of all its programs including Foundation Day till after January 3.
Also Read: Rahul, Priyanka, Congress Leaders, Modi, Lead Tributes To Manmohan Singh
Daljit (Dean) Singh
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The world academic community has lost a towering scholar of economics, and the people of India have lost a genuinely honest and non-corruptible leader. Prime Minister Manmohan Singh’s contributions to civility, graciousness, and love for disfranchised will be in the bold letters of India’s recorded history of politics.
December 26, 2024JAYANANDA HIRANANDANI
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He deserved a Nobel Prize for economics. My belief, subject to reconsideration, is that Nobel prize for economics if often given to academic people. Dr. Manmohan Singh was one who put ideas into action, something which academics normally do not do.
December 26, 2024Sangeeta Jain
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ll India Association of Industries (AIAI) pays rich tribute to the architect of the modern, open Indian economy who demonstrated the power of economic reforms in lifting people out of poverty and advancing social welfare.
Dr. Manmohan Singh steered the country through the 1991 economic crisis through his bold economic measures such as devaluation of currency and liberalization. His visionary leadership at the time of great economic instability boosted investor confidence and sowed the seeds for an emerging India with potential to compete with giant developing economies such as China and Russia.
Dr. Singh displayed rare courage and foresight to rescue the country from the impending economic collapse by challenging the dominant statist economic ideologies and scripting landmark policy shift that will have far reaching impact on the economic landscape of the country for generations to come.
His policies aided Indian industry to prepare for global competition, attract foreign investment and transform India into an emerging economic powerhouse. India’s economic growth miracle, which was fueled by Dr. Singh’s reforms, led to the economy being included in the BRIC club that has the potential to challenge the dominance of G7 countries by 2050.
The Oxford educated economist not only engineered economic reforms, but also pioneered pathbreaking welfare schemes, and advanced India-US relationship.
Under his stewardship, India signed a landmark nuclear deal with the USA, which paved the way for access to advanced nuclear technologies for civilian use.
Paying rich tribute to the architect of India’s economic reforms, Dr. Vijay Kalantri, President, All India Association of Industries and Chairman, WTC Mumbai mentioned, “The nation lost a statesman whose policy experiments transformed the lives of millions of people. Dr. Singh was a rare breed of politician who displayed simplicity, frugality and personal integrity in public life.”
Dr. Manmohan Singh was the first Indian to receive the prestigious Adam Smith Prize from the University of Chicago for his exemplary work in economics. Under his leadership, India enacted the Right to Information (RTI) Act which contributed to citizen empowerment and transparency in governance.
Sangeeta Jain
Senior Director
All India Association of Industries
December 27, 2024Gurinder Singh, MD, FAAO, MHA
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Dr Manmohan Singh was a Genius and a Genuine Scholar, a humble and strong willed human being.
December 27, 2024He brought a bankrupt nation to the forefront of global economic powers.
He genuinely deserved Noble Prize in Economics but he was not a politician to drum up connections and network around him to be nominated for the award. Noble Prize has been awarded to the theoreticians but Dr Manmohan Singh performed a unique practical to feed the hungry in a starving nation. Noble Prize has robbed itself of a mountainous stature by not honoring him; rather I would say that Noble Prize has belittled itself by not recognizing this Greatest Economist of his time.
He was the very first International Dignitary to be Welcomed with Red Carpet reception at the White House by President Obama.