'Silent departure' of India's financial reformer

Former Prime Minister of India Manmohan Singh passed away at the age of 92

पुस १२, २०८१

बुद्धिसागर मरासिनी

'Silent departure' of India's financial reformer

Former Prime Minister of India and economist Manmohan Singh has passed away at the age of 92. Singh, who was the Prime Minister of India from 2004 to 2014 and before that the Finance Minister, is considered to be the planner of liberalization and economic reforms in India.

Singh passed away at 9.51 pm Indian time at the All India Institute of Medical Sciences (AIIMS) in New Delhi during treatment. Singh, who was unconscious at home, was taken to AIIMS for treatment.

'He was being treated for age-related medical problems and suddenly collapsed at home on December 26, 2024,' Ames said. But despite various efforts, Singh could not be saved, according to the hospital.

Indian Prime Minister Narendra Modi said that Singh was India's 'most distinguished leader' and the country has expressed grief over his death. 'As the Prime Minister of India, he made extensive efforts to improve the standard of living of the people,' Modi wrote on the social network X . 

Priyanka Gandhi, daughter of former Prime Minister Rajiv Gandhi and a member of the Indian Congress Party, described Singh as a 'truly egalitarian, intelligent, strong-willed and courageous' leader to the end. Congress leader and Priyanka's brother Rahul stated that he has lost a mentor and guide.

Singh is the first Prime Minister of India to be re-elected after completing his first term after Jawaharlal Nehru. He is also the first leader of the Sikh community to reach the top position in India. He also publicly apologized in Parliament for the 1984 riots in which 3,000 Sikhs lost their lives.

Singh's second term was very controversial due to corruption. Some have said that his tenure was responsible for the defeat of his Congress party in the 2014 general elections.

Singh was born on September 26, 1932 in Gah (now Pakistan) in Punjab province before partition. After the partition of India and Pakistan in 1947, his family moved to Haldwani, India. But in 1948, Singh's family moved to Amritsar.

Singh graduated from Punjab University in 1952 and post-graduation in 1954. After that, he completed his master's degree in economics from the University of Cambridge in the UK. After returning to India and becoming a teacher for some time, Singh went to Oxford University in 1960 and graduated in 1962.

After that, Singh, who returned to India and started teaching at Punjab University, became a professor. He worked under the United Nations for three years from 1966. For two years from 1969 he was Professor of International Business at Delhi University. 

After that, Singh became the Chief Economic Adviser to the Ministry of Finance, Finance Secretary, and became the Governor of the Reserve Bank of India . After that, Singh, who was working abroad for three years, became an economic adviser to Indian Prime Minister Chandra Shekhar in 1990.

Singh entered Indian politics in 1991. In June 1991, Prime Minister of India PV Narasimha Rao selected Singh as Finance Minister. But when he took charge of the Finance Minister, India's economic condition was very bad. 

India's budget deficit in 1991 was 8.5 percent of GDP. The balance of payments was negative while the current account was close to 3.5 percent of GDP. Similarly, the foreign exchange reserves were barely one billion US dollars . Which at that time was only enough to cover the rectangle for 2 weeks. 

Singh told the Prime Minister and the party that India is facing an unprecedented crisis. P. Chidambaram and Singh said deregulation of the economy is necessary . But the leadership of the party protested. But Rao was positive about it . 

He launched an ambitious and unprecedented economic reform program. Cut taxes and devalued the Indian rupee . Privatized state-run companies and encouraged foreign investment .The Indian economy revived in the 1990s . Industrial activity increased, inflation came under control and economic growth increased. 

Manmohan Singh was always aware of his lack of political base. "Being a politician is a good thing, but to be a politician in a democracy, you have to win the election first," he once said. But he was defeated in 1999 when he tried to win the election to the lower house of India . Then he sat in the upper house chosen by his own party. He was the leader of the Indian Congress in the upper house Rajya Sabha when the Bharatiya Janata Party was in power from 1998 to 2004.

Even in 2004, his attempt to be elected by the people failed . But after Congress won the election, Congress President Sonia Gandhi refused the post of Prime Minister. Gandhi refused the post of prime minister because she was afraid that she would be attacked by the opposition, especially because she was of Italian origin. 

With that, Gandhi promoted Singh as the Prime Minister. That is why Singh is also called 'Accidental' Prime Minister . Critics say that Gandhi exercised power and that Singh was not a real prime minister.

But as the Prime Minister Singh, Finance Minister P. Together with Chidambaram, the Indian economy accelerated . Gross domestic product grew by 9 percent in 2007 and India became the second fastest growing economy in the world.

In 2009, Singh became the Prime Minister for the second time. But various scandals involving his ministers became public . Parliament was blocked by the opposition and India fell into a severe economic depression. Senior leader of the opposition BJP, LK Advani, called Singh a 'weak prime minister' of India.

But Manmohan Singh defended himself and said that the government is 'working with utmost commitment and dedication for the welfare of the country and the people'. But the quiet demeanor of the quiet lion won the hearts of many fans .

Singh continues peace process with 'permanent enemy' Pakistan . He tried to end the border dispute with China and made an agreement to open the Nathula border crossing in Tibet which had been closed for more than 40 years . He increased financial support for Afghanistan and became the first Indian leader to visit the country in nearly 30 years. Similarly, India's severing of ties with Iran, an old ally, angered many opposition politicians. 

Singh is an unforgettable character in the political affairs of Nepal. While he was the prime minister, a 12-point agreement was reached between the main parties of Nepal and the then rebel Maoists in New Delhi, the capital of India. The movement that started after the agreement has changed the monarchy in Nepal.

Singh, who received India's second highest civilian honor in 1987, has a wife, Gursharan Kaur, and three daughters.

बुद्धिसागर मरासिनी मरासिनी कान्तिपुर संवाददाता हुन्। उनी अन्तर्राष्ट्रिय तथा समसामयिक विषयमा रिपाेर्टिङ र टिप्पणी लेख्छन् ।

Link copied successfully