By Ajit Ranade
The passing of Dr Manmohan Singh, architect of economic reforms is truly the end of an era. His style of leadership exemplified simplicity, dignity and grace, and of seeking consensus. As Prime Minister for two terms from 2004 till 2014, he led two coalition governments but achieved a lot in terms of landmark legislations and a high economic growth. In that aspect, his tenure can be compared to that of Prime Minister Atal Bihari Vajpayee, who too led a government with 23 coalition partners. This week marked the 100th birth anniversary of Vajpayee. There is a telling comment that Vajpayee left in the visitors’ book after the death of Vice President Krishna Kant. Paying a tribute to Kant, Vajpayee wrote in Hindi, in his decorative impeccable handwriting, “here was a beautiful lotus flower which bloomed despite being in the cesspool of politics”. These remarks are equally applicable to Manmohan Singh—a scholar, economist, and statesman whose life embodied dignity, intellect, and humility.
From humble beginnings to eminence
Dr. Singh’s journey is truly inspirational. Born in a small village in undivided Punjab, he was raised by his grandparents under frugal means. His early life was shaped by the upheaval of Partition. Displaced by the chaos, Singh rose through sheer perseverance to achieve academic excellence. He earned scholarships to study at Cambridge and Oxford. At Cambridge, he topped the Economics Tripos and received the Adam Smith Prize, a rare accolade for an Indian.
At Cambridge, Singh’s intellectual rigor won him admiration from renowned economists like Joan Robinson and Nicholas Kaldor. His doctoral thesis on India’s export prospects challenged the prevalent pessimism. His book, “India’s Export Trends and Prospects for Self-Sustained Growth” (1964), became a seminal work. It advocated for export-driven growth. Decades later, India’s economic trajectory would vindicate his vision.
Singh’s career spanned academia, administration, and politics. He began as a professor at the Delhi School of Economics. Later, he held roles like Chief Economic Advisor, Governor of the Reserve Bank of India, and Vice Chairman of the Planning Commission. After that was as Finance Minister and then two terms as Prime Minister. His career reflected academic brilliance, administrative acumen, political savvy and governance expertise. No other economist has had such a breathtaking career and meteoric rise.
Architect of economic reforms
Dr. Singh’s appointment as Finance Minister in 1991 was a turning point for India. Faced with a severe balance-of-payments crisis, Singh unleashed bold economic reforms. These included dismantling the license raj, deregulating banking, and opening the economy to trade and foreign investment.
In his maiden budget speech in 1991, Singh quoted Victor Hugo: “No power on earth can stop an idea whose time has come.” That idea was the emergence of India as an economic power. He ensured that the bold reforms were supported by expert committees and consultation which gave a robust foundation. The committees included the Raja Chelliah Committee for tax reforms and the Narasimham Committee for financial sector reforms.
These reforms resolved the crisis and paved the way for sustained growth. India’s GDP growth rates soared. By the end of Singh’s two terms as Prime Minister, India had joined the league of $2 trillion economies.
Decency and statesmanship in leadership
Dr. Singh’s tenure as Prime Minister (2004–2014) further cemented his legacy. His leadership style, marked by consensus-building and quiet determination, led to landmark legislation. These included the Right to Information Act, MGNREGA, and the rollout of Aadhaar. He also showed political courage by staking his government’s survival on the Indo-US civil nuclear deal.
Singh’s integrity and humility were his hallmarks. Stories abound of his simple lifestyle and ethical conduct. As Finance Minister, after devaluing the rupee, he donated the windfall to the Prime Minister’s Relief Fund. When he lost a Lok Sabha election and had borrowed funds for his campaign, he promptly repaid the loan.
A scholar’s evolving
vision
Singh’s views evolved over time. Early in his career, he was a staunch advocate of free trade and market-oriented reforms. As Prime Minister, his policies leaned toward welfarism. This reflected a nuanced understanding of growing income inequalities and the need for a safety net. His balance between market liberalization and social welfare showed pragmatism and intellectual honesty.
His open-mindedness echoed John Maynard Keynes’s dictum: “When the facts change, I change my mind. What do you do, sir?” Singh’s readiness to adapt ensured that his policies remained relevant. He addressed both economic crises and social inequities.
Global leadership
and legacy
Dr. Singh’s influence extended beyond India. As Secretary-General of the South Commission, he championed South-South cooperation. This role prepared him for leading coalition governments at home. It also shaped his approach to multilateral diplomacy. Under his leadership, India became a key player in global forums like the G20. His tenure amplified India’s voice on issues like climate change and trade. His commitment to inclusive and sustainable development was evident.
Criticism and the
judgment of history
Like any public figure, Singh faced criticism. His tenure as Prime Minister saw allegations of corruption within his coalition government. This led to a perception of weakness. Yet, even his harshest critics acknowledged his personal incorruptibility and sincerity. He often responded to detractors with silence, describing it as maintaining their dignity.
Dr. Singh’s career is a testament to the genius of India’s democracy. It shows how individuals from modest beginnings can rise to power. His legacy is one of dedication, scholarship, and decency. He believed in the transformative power of ideas and hard work.
As the nation bids farewell to this “gentleman leader,” his words resonate: history will judge him kindly. For, in Dr. Manmohan Singh, India had a leader who symbolized quiet strength, relentless intellect, and unshakable integrity.
(Dr. Ajit Ranade is a noted economist). (Syndicate: The Billion Press) (email: [email protected])