Economists around the world remember him for his brilliance and humility, and predominantly for his role in opening up the state-controlled Indian economy, when he was appointed Finance Minister of India in 1991.
The NIPFP (the think tank of finance ministry where I work) had immense opportunities to work with him. It is interesting to recall that in 2004, when Singh was named as Indian Prime Minister, India was embarking into a Common Minimum Programme with dual objectives of economic growth and equity. I remember it was a tough call, given the constrained fiscal space for expenditure design for the poor under the new fiscal rules to contain the mounting fiscal deficits.
Making efforts to phase out revenue deficit, while designing innovative revenue spending for MNREGA to ensure job guarantee schemes, was a tough call during his regime.
This story is from the December 28, 2024 edition of The New Indian Express Mysuru.
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This story is from the December 28, 2024 edition of The New Indian Express Mysuru.
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