Architect of India's Economic Reforms
June 1991, the then Finance Minister of India Dr. Manmohan Singh presented his first Finance Budget in the Parliament of India that put the roadmap for LPG – Liberalization, Privatization and Globalization. He thus laid down the architecture of Indian Economic Reforms that saw unleashing of economic progress in our country and opening of India to the world. Dr. Singh knew that it was a big bold step that will encounter many challenges and therefore he ended his budget speech with a Sher written by a poet from Bihar – Bismil Azimabadi – and popularized by Ram Prasad Bismil.
"Sarfaroshi ki
tamanna ab hamare dil mein hai,
dekhna ki zor kitna
baazu-e-qatil mein hai.”
Dr. Singh’s this move
left an indelible mark on India’s economy. It was a
turning point in the economic history of independent India which witnessed bold
economic reforms, abolition of licence raj and opening of many sectors to
private players and foreign players so that capital could flow in. After serving as Governor of
Reserve Bank of India from 1982 to 1985, he served the nation for next fourteen
years from 1991 to 2014 as Finance Minister, Member of Parliament and Prime
Minister (for a continuous tenure of ten years) but never took the credit for historic
achievements including MGNREGA causing the fastest
compression of poverty anywhere in the world in world history
according to World Bank.
Dr. Manmohan Singh was a humble and self-effacing person who wore his scholarship lightly. Today words are falling short to shower adjectives for this visionary politician by the world leaders, bureaucrats and intellectuals – a thorough gentleman, one of the stalwarts, great economist, patient listener, persuasive, visionary politician, humble person while upholding his personal values, a renowned name in the global financial and economic sectors, true statesmen and acumen with vision, humility and commitment to India’s growth, kind, benevolent and gracious person but intellectually very sharp, inspiring and venerated leader, an honest man, India’s one of the most illustrious sons, a man with nobility, integrity and tolerance, and the adjectives go on. Salute to this simple but great man -a Pinnacle of Nobility, Integrity, Wisdom and Exceptional Intelligence..
