New Delhi, Dec 26 (UNI): A celebrated economist and the architect of India’s economic liberalisation, former Prime Minister Manmohan Singh leaves behind a rich legacy of reforms.
Singh, 92, who passed away at the All India Institute of Medical Sciences (AIIMS) here at 9-51 pm on Thursday, was known for his honesty and probity in personal life.In his long and illustrious career, Dr Singh held many key positions including those of Finance Minister, RBI Governor and Deputy Chairman of the erstwhile Planning Commission, leaving an indelible mark in all the roles.
In 2004, after Sonia Gandhi declined to take over as the country’s prime minister, Manmohan Singh was chosen for the coveted post at the head of the United Progressive Alliance (UPA) government and took oath on May 22.The UPA retained power in 2009, with the Congress getting over 200 seats.
Singh took oath as PM for the second time on May 22, 2009, and continued in the PM’s chair till 2014, when the UPA lost the general elections, paving the way for the BJP-headed NDA to form the government with Narendra Modi as the Prime Minister.
The 100-day work programme MGNREGA was one of the headline initiatives during his premiership.However, on the flip side, his government, particularly in its second term, faced allegations of policy paralysis and was berated by the opposition for alleged scams.
Dr. Singh was an acclaimed scholar. He is well regarded for his diligence, academic approach to work, accessibility and unassuming demeanour.
As Finance Minister (1991-96) under Prime Minister P.V. Narasimha Rao, Dr Singh is credited with kickstarting structural reforms across various sectors such as telecom and aviation which led to the economic boom in the country.
The 1991 reforms proved to be a landmark moment in post-Independence India.Dr Singh is considered the chief architect of the comprehensive economic reforms which laid the foundation for solid growth in the later decades. The so-called liberalisation, privatisation and globalisation (LPG) dismantled the license raj, allowing the industry freedom to take investment decisions.
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