NEW DELHI (Diya TV) — Manmohan Singh, the former Indian prime minister and a widely respected economist credited with transforming India’s economy, died at the age of 92 on December 26. Singh, who had been battling age-related ailments, passed away after being admitted to the hospital following a sudden loss of consciousness, according to hospital officials.
Singh was the first Sikh to head India’s government and often referred to as a “reluctant king.” However, he made some indelible marks in India’s economic and political landscape. Singh was India’s finance minister during the early 1990s, and he spearheaded a series of bold economic reforms that opened up the Indian economy to the rest of the world, uplifting millions of people from the clutches of poverty, putting the country on the path of rapid growth.
Singh’s reforms were crucial in preventing a major balance of payments crisis. He brought in measures that deregulated industries, encouraged foreign investment, and helped India to move from a closed, centrally planned economy to an open, market-driven economy.
In his maiden budget speech in 1991, Singh famously quoted French writer Victor Hugo, saying, “No power on earth can stop an idea whose time has come,” referring to the emergence of India as a major economic force. His reforms have since been credited with transforming India into one of the world’s fastest-growing economies.
Born in 1932 in what is now Pakistan, Singh studied economics at Cambridge and Oxford universities before embarking on a career as an economist. He served as governor of the Reserve Bank of India and held various key advisory roles in the Indian government before being unexpectedly appointed finance minister in 1991.
In 2004, Congress Party leader Sonia Gandhi selected Singh to be the prime minister after a stunning electoral victory. Sonia, fearing her Italian background would be used against her by political opponents, handed the baton to Singh, who served two terms as prime minister.
During his tenure, Singh’s government was witness to an unprecedented period of economic growth. Notably, in 2008, his administration negotiated a historic nuclear deal with the United States, allowing India to trade in civilian nuclear technology for the first time in decades.
Despite his successes, Singh’s second term was marred by a series of corruption scandals involving members of his government. He was criticized for the inability to address the allegations, and his once-heralded economic policies began to falter with global economic challenges taking a toll on India.
During his last days in office, Singh expressed his confidence about the good impression his work would make when he leaves office as he said in an interview, “History will be kinder to me than the contemporary media or opposition parties.”
He is survived by his wife, Gurucharan Kaur and three daughters,
The Indian government is set to declare a seven-day mourning period for the nation.
The Congress Party has already suspended all its activities until January 3rd as a tribute.
