Manmohan Singh, the economist-turned-politician whose bold reforms in 1991 pulled India back from the brink of economic collapse, has died at 92. Known for his measured demeanour and intellectual rigour, Singh quietly steered transformative policies that opened India’s closed economy to the world and laid the foundation for its rise as a global player.
Singh’s defining moment came in July 1991, when he served as Finance Minister in Prime Minister P.V. Narasimha Rao’s government. Confronting a crisis that had reduced India’s foreign reserves to perilous lows, Singh delivered a historic budget speech that announced a series of liberalization measures. Quoting Victor Hugo, Singh declared: “No power on earth can stop an idea whose time has come. India is now wide awake. We shall prevail. We shall overcome.”
The reforms he spearheaded dismantled the restrictive License Raj, eased foreign investment, and introduced a more market-driven approach to governance. They marked a departure from decades of socialist policies and reshaped India’s economic destiny, averting a looming sovereign default and restoring global confidence in the country’s future.
Beyond his tenure as Finance Minister, Singh served two terms as India’s Prime Minister from 2004 to 2014. As the leader of the Congress-led United Progressive Alliance (UPA), he presided over an era of economic growth and expanded social welfare. His government implemented landmark initiatives, including the Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA), the Right to Education Act, and Aadhaar, a biometric identity program that streamlined welfare distribution.
But Singh’s years as Prime Minister were not without challenges. Corruption scandals within his coalition government and rising inflation marred his second term, prompting critics to label him a “weak Prime Minister.” In his defence, Singh once remarked: “I honestly believe that history will be kinder to me than the contemporary media.”
Even after leaving office, Singh remained a voice of reason and restraint. He criticised Prime Minister Narendra Modi’s demonetisation policy as a “monumental management failure” and warned of its long-term impact on the economy. His critiques, though sharp, were always delivered with civility and precision.
Throughout his career, Singh reflected on the broader responsibilities of leadership. In a 1999 interview, he said: “You can fool some people for all time, all people for some time, but not all people for all time.”
is that of a reformist who acted decisively in times of crisis and led with humility and intellect. His economic vision lifted millions out of poverty and placed India on the global stage, ensuring his name will endure as a symbol of quiet, transformative leadership.
Stay informed on all the , real-time updates, and follow all the important headlines in and on Zee News.
