Former Indian Prime Minister Manmohan Singh passed away on December 26, 2024, at the age of 92. He was admitted to the All India Institute of Medical Sciences (AIIMS) in New Delhi after collapsing at his residence and was pronounced dead despite resuscitation efforts.
Manmohan Singh was a renowned economist and statesman, widely celebrated for his pivotal role in shaping modern India’s economic landscape. Here are key highlights of his contributions as an economist:
Academic Excellence
- Education: Singh graduated from Punjab University before pursuing his studies at the University of Cambridge, where he earned his bachelor’s degree in Economics. He later completed his D.Phil. in Economics at the University of Oxford, focusing on India’s export competitiveness.
- Academic Career: Singh served as a professor at the Delhi School of Economics and other prestigious institutions, imparting his deep understanding of economics to generations of students.
Key Economic Contributions
- Economic Reforms of 1991:
- As Finance Minister of India, Singh was instrumental in initiating India’s economic liberalization during a balance of payments crisis.
- His reforms dismantled the License Raj, reduced tariffs and import restrictions, and opened the economy to foreign investment.
- These measures set India on a path of rapid economic growth and integration into the global economy.
- Architect of Modern India’s Economy:
- Singh’s policies emphasized fiscal discipline, privatization, and market-driven economic growth.
- His leadership in economic policy is credited with transforming India from an inward-looking economy into one of the fastest-growing economies globally.
- International Influence:
- Singh held key roles in international organizations, including the International Monetary Fund (IMF) and the South Commission.
- He brought a global perspective to India’s economic policies, advocating for reforms that positioned India as a significant player on the world stage.
Recognitions
- Singh received numerous awards for his contributions to economics and public service, including honorary degrees from leading universities worldwide.
- He was regarded as one of the most qualified heads of government in economic matters, given his extensive academic and professional background.
Legacy
Manmohan Singh’s work as an economist laid the foundation for India’s rise as a major global economy. His pragmatic approach to policy-making and unwavering commitment to economic reform earned him respect both in India and internationally.
Singh, an esteemed economist and the first Sikh to hold the office of Prime Minister, served from 2004 to 2014. He was instrumental in implementing economic reforms that liberalized India’s economy during his tenure as Finance Minister in 1991, leading to significant economic growth. As Prime Minister, he oversaw a historic civil nuclear agreement with the United States in 2008 and navigated the country through challenges such as the 2008 Mumbai terrorist attacks.
His tenure was marked by both achievements and controversies, including corruption scandals and internal party conflicts during his second term, which contributed to the Congress Party’s electoral defeat in 2014. Despite these challenges, Singh remained a respected figure in Indian politics, known for his integrity and dedication to public service.
Following his passing, national mourning has been declared, with the national flag flying at half-mast. Leaders from India and around the world have expressed their condolences, highlighting his contributions to India’s economic development and international relations.
