Manmohan Singh, one of India’s most respected statesmen, leaves behind a legacy that is as profound as it is complex. Known for his intellectual prowess, integrity, and calm demeanor, Singh’s contributions to India’s economic and political landscape are unparalleled. While his groundbreaking economic reforms as Finance Minister in 1991 earned him global recognition, his tenure as Prime Minister was equally transformative, marked by bold foreign policy decisions and welfare-oriented governance.
Singh's tenure as Finance Minister in the Narasimha Rao Cabinet came at a time when India was on the brink of economic collapse. The balance-of-payments crisis in 1991 left the country with foreign exchange reserves sufficient for barely two weeks of imports. It was a moment of reckoning, and Singh rose to the occasion. With the full backing of Prime Minister Narasimha Rao, Singh initiated a series of liberalization measures that would change the course of India’s economic history. He dismantled the infamous Licence Raj, which had stifled industrial growth for decades, and opened the economy to foreign direct investment (FDI). These reforms not only stabilized the economy but also unleashed India’s entrepreneurial spirit, setting the stage for rapid growth in the decades to come.
Under Singh’s stewardship, India transitioned from a largely closed and state-controlled economy to one that embraced globalization and market dynamics. His famous words, “No power on earth can stop an idea whose time has come,” from his 1991 Budget speech, encapsulated the spirit of reform and ambition that defined his vision for India. The impact of these reforms was transformative: GDP growth rates, which had languished at around 3-4% annually, surged, and India emerged as one of the fastest-growing economies in the world.
When Singh assumed the role of Prime Minister in 2004, many saw him as a reluctant politician. However, his tenure would prove otherwise. Steering a coalition government is never easy, but Singh managed to navigate the complexities of coalition politics with a focus on national interest. One of his defining achievements as Prime Minister was the India–United States Civil Nuclear Agreement. The deal, which aimed to end India’s isolation as a nuclear power, faced stiff opposition from political allies and adversaries alike. The Left parties, a crucial part of his coalition, withdrew their support, plunging the government into a crisis. Despite this, Singh stood firm, securing a confidence vote in Parliament and ensuring the deal's passage. This historic agreement not only established India as a responsible nuclear power but also paved the way for greater collaboration with the United States, marking a significant shift in India’s foreign policy.
Singh’s leadership during the global economic recession of 2008 was another testament to his steady hand and economic acumen. At a time when the world grappled with financial uncertainty, India managed to weather the storm relatively unscathed, thanks to Singh’s prudent policies and focus on fiscal stability. His ability to inspire confidence among the middle class and the business community was evident in the 2009 general elections when the Congress party, under his leadership, won 206 seats, a significant improvement from its 2004 performance.
However, Singh’s second term as Prime Minister was not without challenges. Allegations of corruption, bureaucratic inertia, and policy paralysis marred the image of the United Progressive Alliance (UPA) government. Yet, despite these controversies, Singh introduced transformative welfare programs. The Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS) became a lifeline for millions of rural households, providing guaranteed employment and addressing deep-seated agrarian distress. Singh also implemented debt relief measures for farmers, showcasing his commitment to addressing the needs of the most vulnerable sections of society.
Manmohan Singh’s legacy is not without its critiques. The perception of a "silent" Prime Minister, often accused of being overshadowed by the Congress leadership, particularly Sonia Gandhi, has lingered. However, his quiet demeanor belied a steely resolve and an unwavering commitment to the nation’s progress. As Sanjaya Baru noted in his book, The Accidental Prime Minister: The Making and Unmaking of Manmohan Singh, Singh’s strong stand on the nuclear deal erased public perceptions of his submissiveness, establishing him as a leader willing to take bold and difficult decisions.
Singh’s contributions extended beyond the realm of economics and governance. As India’s first Sikh Prime Minister, he embodied the nation’s diversity and pluralism, inspiring millions with his integrity, humility, and dedication. His tenure not only transformed India’s economic landscape but also cemented its position as a global player, particularly in the areas of strategic partnerships and nuclear diplomacy.
As India bids farewell to this towering figure, it is worth reflecting on the enduring impact of his leadership. From rescuing the economy during one of its darkest hours to elevating India’s stature on the global stage, Manmohan Singh’s legacy is a testament to the power of vision, perseverance, and quiet strength. While the challenges and controversies of his later years cannot be overlooked, they do not overshadow the monumental contributions he made to India’s growth and development. His life and work remain a source of inspiration, reminding us that true leadership often lies in action, not words, and that humility and integrity are virtues that stand the test of time.
