The Man Behind Liberal India

Introduction: A legend was born on the 26th of September 1932 in gah (Punjab), a heated moment as it was the time nearing the bloody partition. Political upheavals were at its peak and the breeze already had the message of a mass migration. The child had an early life in Gah (now in Pakistan) and the traumatic experience of Partition played a significant role in shaping his worldview and political outlook such that he turned out to be the 13th Prime Minister of India- Dr. Manmohan Singh.

Dr. Manmohan Singh was a prominent Indian economist and politician who served as the 13th Prime Minister of India from 2004 to 2014. He was the Key person in making significant contributions to India's economic liberalization and development.

He completed his undergraduate degree in Economics from Panjab University in 1952 and postgraduate degree from the above-mentioned University in 1954.

He also went on to study at the University of Cambridge in the UK, earning a Tripos degree in Economics in the year 1957.

Later, he completed his DPhil (Doctor of Philosophy) in Economics from the University of Oxford in 1962. 

After completing his academic journey Dr. Singh joined as a professor in Punjab University and also in Delhi School of Economics in the 1960s and 70s. Teaching helped him build a social and a cultural base and a connect to people and politics. His experience at teaching helped him build a solid academic foundation, and he became well-regarded for his expertise in economic planning and policy. During this period, he interacted with various scholars and economists, shaping his ideas on economic development, public policy, and governance. 

Well before penetrating into Indian politics, he had a significant international career as an economist. He was appointed as a secretary general of South commission of Geneva from 1987-1990. Dr. Manmohan Singh's tenure in Geneva is associated with his role at the United Nations Conference on Trade and Development (UNCTAD). During his tenure, Dr. Singh was involved in advising on matters related to global trade, development economics, and economic policies for developing nations. He worked with a range of international experts and developed a global understanding of economic issues, particularly related to trade liberalization, development strategies for emerging economies, and the complexities of the global economic system.  Singh’s time in Geneva exposed him to the broader world of economics, trade, and development at an international level. This experience was pivotal in shaping his later career as a policymaker and economist in India, especially when he became instrumental in India's economic liberalization in the 1990s. Working with UNCTAD also gave him a deeper understanding of the challenges faced by developing countries in a globalized world, particularly issues related to trade imbalances, foreign aid, and economic sovereignty.

 Dr. Singh’s international career was an important chapter that helped to lay the groundwork for his future achievements in both India's economic reform movement and his later leadership as Prime Minister.

Taking lessons of social and political concerns, He moved back to India to apply and contribute his learnings in the Indian economy.

He served in the Indian Government as the Chief Economic Advisor in the Ministry of Finance from 1972-1976. 

Singh was appointed as the Governor of the RBI from 1982-1985, where he focused on banking reforms and strengthening the financial system. 

Dr. Singh became India’s Finance Minister during a critical period of economic crisis in 1991. He is widely credited with initiating major economic reforms, including:

Economic Liberalization: He played a pivotal role in steering India’s economic liberalization policies, which opened up the economy to foreign investments, reduced trade barriers, and encouraged privatization.

Fiscal Reforms: He introduced a new tax system and focused on reducing India’s fiscal deficit.

Structural Reforms: These included reforms in industrial policy, trade, and foreign investment laws.

Dr. Singh had been a member of the Rajya Sabha since 1991, where he was the leader of the opposition from 1998-2004.

Following the win of the Indian National Congress, Dr. Singh took to the PMO on 22nd May 2004, where he served the position of the 13th Prime Minister of the Country.

India under Dr. Singh’s leadership became ever- growing, Resilient and Formidable.  India experienced high economic growth under his leadership, often reaching over 8% annually during the 2000s.

 Singh played a key role in the 2005 Indo-U.S. nuclear deal, which marked a significant shift in India’s foreign policy and energy strategy. He focused on modernizing infrastructure and improving sectors like technology, education, and healthcare. Under his tenure, India saw an expansion in social welfare programs such as the National Rural Employment Guarantee Act (NREGA) and Right to Information Act (RTI), aimed at poverty reduction and improving transparency in government.

Dr. Manmohan Singh is widely regarded as the architect of India's economic liberalization in the early 1990s. His role in shaping India’s economic transformation has had a profound and lasting impact on the country’s development.

By 1991, India was facing a severe economic crisis. The country was running out of foreign exchange reserves, its balance of payments was in disarray, and inflation was high.

Dr. Singh’s reforms aimed at opening up the Indian economy. The government reduced import tariffs, export controls, and licensing requirements that had been in place under the old economic policies. This step was crucial in integrating India into the global economy.

 Singh oversaw significant changes in industrial policy, including the liberalization of industrial.

He made efforts to encourage FDI, allowing foreign companies to invest in India, particularly in sectors like telecommunications and consumer goods. Singh introduced reforms to simplify the tax system and reduce tax rates, making it more business-friendly. The introduction of the General Sales Tax (GST) also started during his tenure, which later evolved into the nationwide GST system.

Reforms were introduced in the banking and financial sectors, with the establishment of new private sector banks, and the liberalization of the stock markets.

While privatization wasn’t as aggressive as some later reforms would be, Dr. Singh’s government initiated the process of reducing the size of the public sector by encouraging privatization of some state-owned enterprises. 

To manage the crisis, Singh took measures to reduce the fiscal deficit, which included reducing government subsidies and implementing austerity measures. 

Most of Dr. Singh’s Idea was initially criticized and very unpopular, but later proved on to be masterstrokes.

One of the first major actions taken by Singh was the devaluation of the Indian rupee

      India’s new economic policies allowed it to take on a more assertive role in                 international trade and diplomacy.

     The economic reforms led to the growth of India’s middle class. With more job    opportunities, better wages, and access to global goods and services, the standard of living for millions of Indians improved, particularly in urban areas.

    India saw a massive increase in its foreign exchange reserves. Singh’s policies helped integrate India into the global economy. 

At the core, Dr. Singh’s idea of India was not just high growth but all-inclusive growth.

He ensured citizens the Legal Right to food, Right to Education, Right to Work and Right to information.

It is this period that launched India on its path to Economic Superpower.

His first Tenure ended on 22nd May. Dr. Singh was re-elected as Prime Minister, serving a second term from May 22, 2009, where he served as the 14th Prime minister of India, where his 2nd term ended on the May 26, 2014.

But his legacy continues forever. 

Dr. Manmohan Singh is regarded as a visionary in India’s economic history. His bold decisions in 1991 laid the foundation for India’s transformation into a modern, dynamic economy. The liberalization policies he implemented continue to shape the country’s economic landscape, and his tenure is seen as a turning point in India’s rise on the global stage. 

The Nation mourned on the 26th of December 2024, the day we lost Dr. Manmohan Singh.  Dr. Singh was widely regarded for his integrity and honesty and his legacies will continue in the country and also within the people.

When he was young

Young age Photo of Dr. Manmohan Singh