New Delhi [India], December 27 (ANI): Calling former Prime Minister Manmohan Singh an “architect of economic reforms,” Union Minister Hardeep Singh Puri on Friday said that he was able to navigate the economy when it was facing many challenges.
“The passing away of the former PM is a great loss. He was a great statesman, a stalwart. I had the privilege of knowing him, nearly for 50 years… He will be remembered for many things – he was the architect of the economic reforms along with PV Narasimha Rao ji, but the contest became more important. He was able to navigate the economy when it was facing many challenges,” Singh told ANI.
“Initially, it was a balance of payment crisis… When he saw those difficulties, economic reforms were carried out – which formed the basis of growth which came later… Equally, if you look at the foreign policy front – the India-US relationship moves from one of a history of hesitation, which led to the basis of a strategic partnership… There was so much opposition to the Nuclear deal but it was Manmohan Singh’s resolve and determination which ensured that the deal went through,” he added.
Manmohan Singh passed away at AIIMS, Delhi, on Thursday evening at the age of 92 due to age-related medical conditions. He had suffered a sudden loss of consciousness at home after which he was rushed to the AIIMS Delhi.
Manmohan Singh was born on September 26, 1932. Apart from being an economist, he served as the Reserve Bank of India governor from 1982-1985. Manmohan Singh was the 13th Prime Minister of India with his tenure from 2004-2014.
He spent five years between 1991 and 1996 as India’s Finance Minister and his role in ushering in a comprehensive policy of economic reforms is recognised worldwide. In the popular view of those years in India, that period is inextricably associated with the persona of Dr. Singh.
Serving as the finance minister of India in PV Narasimha Rao’s government, Singh has been given credit for economic liberalisation in the country in 1991. The reforms made the Indian economy more accessible to foreign investors, which increased FDI and reduced government control. It greatly contributed to the country’s economic growth.
Manmohan Singh’s government also introduced the National Rural Employment Guarantee Act (NREGA), which later came to be known as MGNREGA.
The Right to Information Act (RTI) was passed in 2005 under the Manmohan Singh government, which made the transparency of information between the government and the public better.
Singh retired from the Rajya Sabha earlier this year after serving for 33 years. (ANI)
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