Delhi: India mourns the loss of Dr. Manmohan Singh, former Prime Minister and a towering figure in the nation’s history, who passed away on Thursday night. Known for his quiet demeanor and unwavering dedication to the country, Singh’s legacy continues to shape millions of lives. Here’s how his visionary leadership transformed India:
The Economic Liberalization of 1991
In a historic move as Finance Minister, Dr. Manmohan Singh spearheaded India’s economic liberalization in 1991. His reforms opened India’s economy to global markets, promoting liberalization, deregulation, and privatization. These bold measures not only pulled India back from the brink of an economic crisis but also set the stage for long-term growth and prosperity.
Surging GDP Growth
Under Singh’s leadership, both as Finance Minister and later as Prime Minister, India’s GDP witnessed remarkable growth. The nation’s economy expanded from $266 billion in 1991 to an astounding $1.84 trillion by 2009. This era of economic acceleration established India as a key global player and offered new opportunities to millions of its citizens.
Poverty Reduction Efforts
One of Singh’s most significant achievements was his commitment to reducing poverty. Between 1993 and 2005, poverty rates dropped from 36% to 28%, lifting an estimated 140 million people out of poverty. These achievements were underpinned by policies that prioritized inclusive growth, rural development, and social welfare.
Driving the Technology Boom
Dr. Singh’s reforms acted as a catalyst for India’s IT revolution. The technological boom saw IT exports skyrocket from $150 million in 1991 to over $60 billion by 2011. His vision fostered innovation, entrepreneurship, and job creation, establishing India as a global hub for technology and outsourcing.
An Enduring Legacy
Dr. Manmohan Singh’s contributions to India’s economic progress and global stature have earned him enduring respect and admiration. His leadership was defined by pragmatism, humility, and a relentless focus on the nation’s development. Even in his passing, Singh remains a symbol of transformative leadership and dedication to public service.
As the nation bids farewell to this iconic statesman, his legacy continues to inspire future generations to strive for a more prosperous, inclusive, and globally relevant India.
