Former Prime Minister of India, Dr. Manmohan Singh, passed away on December 26, 2024, at the age of 92. He died at the All India Institute of Medical Sciences (AIIMS) in New Delhi after being admitted due to age-related health issues. Despite resuscitative efforts, he was declared dead at 9:51 PM.
Dr. Manmohan Singh, the 14th Prime Minister of India, is renowned for his significant contributions to the country’s economic and social landscape during his tenure from 2004 to 2014. In 1991, Dr. Manmohan Singh, as Finance Minister under Prime Minister P.V. Narasimha Rao, implemented a series of transformative economic reforms in response to a severe balance of payments crisis. Here are the key reforms introduced during this pivotal period:
Background and Legacy
Dr. Singh served as India’s 14th Prime Minister from 2004 to 2014, leading the Congress-led United Progressive Alliance (UPA) government. He was the first Sikh to hold this position and is widely recognized as a key architect of India’s economic reforms, which began in the early 1990sn New Delhi after being admitted due to age-related health issues. Despite resuscitative efforts, he was declared dead at 9:51 PM.
His tenure as Prime Minister was marked by significant liberalization of the Indian economy, which included reducing import restrictions and privatizing state-owned enterprises.
Born on September 26, 1932, in Gah village (now in Pakistan), Singh had a distinguished academic background, holding a doctorate in economics from the University of Oxford. He began his career in public service as an economic advisor and later served as Finance Minister before becoming Prime Minister.
10 remarkable achievements of Dr Manmohan Singh which will never forget :
Economic Liberalization
1991 Economic Reforms: As Finance Minister, Singh played a pivotal role in liberalizing the Indian economy, which included devaluing the rupee and reducing import tariffs. These reforms ended a balance of payments crisis and set India on a path of sustained economic growth.
High GDP Growth: Under Singh’s leadership, India experienced an average GDP growth rate of about 8.5% during his tenure as Prime Minister, peaking at 10.03% in 2010-11, marking one of the highest growth rates since independence.
Introduction of VAT: In 2005, his government introduced the Value Added Tax (VAT), simplifying the tax structure by replacing the complex sales tax system.
Social Welfare Initiatives
Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA): Launched in 2005, this landmark legislation provided a legal guarantee for at least 100 days of wage employment in a financial year to every rural household, significantly improving rural livelihoods.
Right to Information Act (RTI): Passed in 2005, this act enhanced transparency and accountability in governance by empowering citizens to request information from public authorities.
National Rural Health Mission (NRHM): Initiated in 2005, this program aimed at improving healthcare delivery in rural areas by mobilizing community health workers and enhancing health infrastructure,
International Relations
India-US Civil Nuclear Agreement: Signed in 2005, this agreement marked a significant shift in India’s global standing by allowing access to civilian nuclear technology and establishing India as a key player in international nuclear affairs,
Strengthening Diplomatic Ties: Singh’s tenure saw enhanced diplomatic relationships with several countries, including the United States and Russia, fostering economic partnerships that benefited India’s global position.
Educational Reforms
Right to Education Act (RTE): Introduced in 2009, this act made education a fundamental right for children aged 6 to 14 years, aiming to improve literacy rates and educational access across India.
Expansion of Higher Education: His government established several new Indian Institutes of Technology (IITs) and Indian Institutes of Management (IIMs), significantly increasing opportunities for higher education and addressing skill gaps in the economy,
Dr. Manmohan Singh’s legacy is marked by his commitment to economic reform, social welfare, and international diplomacy, making him a pivotal figure in modern Indian history
A tall personality, who shaped India’s future by bringing about Economic, Educational, Social and international Reforms. While India has lost a PM with a distinguished tenure of a decade, the world has lost a very intelligent and capable Finance Minister.