Thirty-three years ago, Manmohan Singh, India’s Finance Minister, delivered a groundbreaking Budget that would reshape the nation’s economic future. With the memorable declaration, “No power on earth can stop an idea whose time has come,” he set in motion the liberalisation of the Indian economy. The reforms he championed were revolutionary, dismantling the archaic “licence-permit-quota Raj” and shifting the country away from its stagnating ‘Hindu rate of growth.’ Over the following decade and a half, India’s growth soared beyond expectations, rising to an impressive 8 per cent annually, marking an era of unprecedented economic transformation.
Today, Manmohan Singh, who later served as India’s Prime Minister, has passed from the political stage. His passing prompts reflection, and amongst the tributes, critics often revive the past, recalling accusations of indecision, weakness, and an alleged failure to tackle corruption. His critics, at times, dismissed his calm, unflappable demeanor as complacency. Yet, his legacy calls for a re-evaluation of his true impact on the nation. In his own words from 2014, Singh asserted, “I honestly believe that history will be kinder to me than the contemporary media, or for that matter, the Opposition parties in Parliament.”
Indeed, Singh’s tenure as both Finance Minister and Prime Minister has left an indelible mark on India. Under his stewardship, India was transformed from an inefficient, centrally-planned economy to one of the world’s fastest-growing economies. At the time he assumed office, India was mired in slow growth, high inflation, and crippling protectionist policies. Bureaucrats, not businessmen, held sway over the nation’s economic direction, resulting in stagnation and inefficiency. Singh’s reforms, however, ushered in an era of liberalisation, opening up the economy to global markets, reducing government intervention, and encouraging entrepreneurship. The results were nothing short of extraordinary, with India becoming a dynamic, globalised economy boasting thriving businesses and burgeoning trade relations.
Even during the global financial crisis of 2008-09, while much of the world saw a contraction in growth, India remained resilient, maintaining its position as the world’s second-fastest growing economy. Singh’s economic foresight and calm leadership in navigating these turbulent times earned him respect on the global stage. President Barack Obama himself remarked, “When the Prime Minister speaks, the world listens,” a testament to Singh’s stature as a trusted leader.
Manmohan Singh’s legacy extends beyond economic reforms. His policies and initiatives touched every corner of Indian society. During his tenure, 10 million people were lifted out of poverty every year, millions of new bank accounts were opened, and rural purchasing power strengthened through schemes like the Mahatma Gandhi National Rural Employment Guarantee Act. The Aadhaar project, which provided a digital identity to every Indian, stands as one of his most enduring legacies. He also introduced policies aimed at expanding education and empowering citizens, including the Right to Education Act, which brought millions of children into classrooms.
Despite the successes, Singh’s critics point to the challenges of his era. The nation did face corruption scandals, but corruption is a broader systemic issue that transcended his administration. Singh did not shy away from addressing these challenges, and the role of India’s independent institutions, such as the media and judiciary, in holding officials accountable cannot be overlooked. His government, despite facing intense political opposition, continued to push for reforms that addressed India’s deep-rooted problems, even as the country became increasingly empowered on the global stage.
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In foreign policy, Singh advocated for a doctrine that prioritised India’s domestic transformation through strategic international relationships. Unlike many of his contemporaries, Singh was not swayed by the need for grandstanding on the world stage. His approach was pragmatic, focusing on relationships that could bolster India’s economy, energy security, and food security. Through his quiet diplomacy, Singh opened up avenues for trade and investment, fostering relationships that continue to benefit India today.
While some continue to focus on narratives that undermine Singh’s leadership, a balanced portrayal reveals a man who, with integrity, foresight, and unwavering dedication, steered India towards becoming a global economic powerhouse. Singh’s legacy is not merely about policy but about embodying values of decency, humility, and service to the nation.
In the end, Manmohan Singh was not merely an “accidental Prime Minister” but a visionary statesman who brought India to the world stage as a rising economic giant. His leadership, grounded in humility and integrity, continues to inspire, and for that, India remains deeply grateful.
