When prime minister Narasimha Rao handpicked Manmohan Singh as finance minister in 1991, it was an audacious gamble. Here was a technocrat—soft-spoken, unassuming and seemingly ill-suited to the cut-throat world of politics. But Rao's instincts were correct. Facing a near-catastrophic balance-of-payments crisis, Singh unlocked India with reforms, dismantled decades-old red tape and gave wings to the nation's entrepreneurial spirit. His economic liberalization laid the foundation for modern India, his diplomacy expanded its global influence, and his integrity inspired trust in public life.
His 1991 Budget speech is now the stuff of legend: "No power on Earth can stop an idea whose time has come." These words, delivered in his trademark monotone, masked the monumental shift they heralded. Singh's reforms opened India to global markets, attracting investments, boosting industries, and laying the groundwork for the IT revolution. Millions were lifted out of poverty, and India's GDP growth began its ascent to global prominence.
An economist of rare brilliance, a statesman of unshakable integrity, and a man of quiet yet unyielding resolve, Singh leaves behind a legacy that defies the noisy rhetoric of politics. His life story—one of humble beginnings, transformative achievements, and steadfast principles—mirrors the aspirations of a modern, self-assured India.
This story is from the December 28, 2024 edition of Mint Hyderabad.
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This story is from the December 28, 2024 edition of Mint Hyderabad.
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