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Home Business & Finance Economic Policies

manmohan singh: India’s ‘Reluctant king’ Manmohan Singh is dead. Check achievements of architect of reforms that saved country’s economy todayheadline

December 26, 2024
in Economic Policies
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manmohan singh: India's 'Reluctant king' Manmohan Singh is dead. Check achievements of architect of reforms that saved country's economy
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Manmohan Singh, the former Indian prime minister who governed the South Asian country for two terms and liberalised its economy in an earlier stint as finance minister, has died, local media reported on Thursday. He was 92, Reuters report.Described as a “reluctant king” in his first stint as prime minister, the quietly spoken Manmohan Singh was arguably one of India’s most successful leaders. The first Sikh in office, Singh, 92, was being treated for age-related medical conditions and died after he was brought to hospital after a sudden loss of consciousness on Thursday, Reuters reported.

He is credited with steering India to unprecedented economic growth and lifting hundreds of millions out of dire poverty. He went on to serve a rare second term.

Singh, an economist-turned-politician who also served as the governor of the central bank, was ailing and admitted to the All India Institute of Medical Sciences in New Delhi, local media reported late on Thursday.

He was admitted to the All India Institute of Medical Sciences (AIIMS) here following a deterioration in his health.


The news of Dr. Singh’s death has been confirmed by the AIIMS in a statement that read: “With profound grief, we inform the demise of former Prime Minister of India, Dr. Manmohan Singh aged 92. He was being treated for age related medical conditions and had sudden loss of consciousness at home on December 26. Resuscitative measures were started immediately at home. He was brought to the medical emergency at AIIMS. Despite all efforts, he could not be revived and was declared dead at 9.51 p.m (IST).”Singh is survived by his wife, Gursharan Kaur, and their three daughters.Born into a poor family in a part of British-ruled India now in Pakistan, Singh studied by candlelight to win a place at Cambridge University before heading to Oxford, earning a doctorate with a thesis on the role of exports and free trade in India’s economy.

He became a respected economist, then India’s central bank governor and a government advisor but had no apparent plans for a political career when he was suddenly tapped to become finance minister in 1991.

During that tenure to 1996, Singh was the architect of reforms that saved India’s economy from a severe balance of payments crisis, promoted deregulation and other measures that opened an insular country to the world.

Famously quoting Victor Hugo in his maiden budget speech, he said: “No power on earth can stop an idea whose time has come,” before adding: “The emergence of India as a major economic power in the world happens to be one such idea.”

Singh’s ascension to prime minister in 2004 was even more unexpected.

He was asked to take on the job by Sonia Gandhi, who led the centre-left Congress party to a surprise victory. Italian by birth, she feared her ancestry would be used by Hindu-nationalist opponents to attack the government if she were to lead the country.

Riding an unprecedented period of economic growth, Singh’s government shared the spoils of the country’s new found wealth, introducing welfare schemes such as a jobs programme for the rural poor.

In 2008, his government also clinched a landmark deal that permitted peaceful trade in nuclear energy with the United States for the first time in three decades, paving the way for strong relations between New Delhi and Washington.

But his efforts to further open up the Indian economy were frequently frustrated by political wrangling within his own party and demands made by coalition partners.

FAQs

Q1. What was Manmohan Singh’s age?
A1. Manmohan Singh was 92-year-old.

Q2. How many terms Manmohan Singh hold office?
A2. Manmohan Singh was two-time Prime Minister of India.

Disclaimer Statement: This content is authored by a 3rd party. The views expressed here are that of the respective authors/ entities and do not represent the views of Economic Times (ET). ET does not guarantee, vouch for or endorse any of its contents nor is responsible for them in any manner whatsoever. Please take all steps necessary to ascertain that any information and content provided is correct, updated, and verified. ET hereby disclaims any and all warranties, express or implied, relating to the report and any content therein.

Tags: achievementsarchitectcheckcountrysdeaddr manmohan singheconomyIndiasKingmanmohanmanmohan singhManmohan Singh biographymanmohan singh deadmanmohan singh demisereformsReluctantsavedSinghtodayheadline
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