A truly great son of India
Financial Express Kochi|December 28, 2024
DR SINGH'S APPROACH WAS SUPREMELY EFFECTIVE IN CREATING SPACE FOR EXCHANGE OF VIEWS
RAGHURAM RAJAN

CAME TO know Dr Manmohan Singh during his first term as Prime Minister when he, on the advice of Montek Singh Ahluwalia, appointed me as an economic advisor. Over the years since then, through my term as Reserve Bank of India (RBI) governor and after, I had the privilege of interacting with him periodically.

Dr Singh was a brilliant economist with an ambitious vision of what a liberal India could be, combined with a fine sense of what was possible politically. He was understated and soft-spoken, which allowed him to attract the best and the brightest, ranging from Ahluwalia to C Rangarajan, to his team. The liberalization and reforms he undertook with the support of Prime Minister Narasimha Rao laid the foundations of the modern Indian economy, and spurred the decades of robust growth we still enjoy.

In his terms as Prime Minister, Dr Singh's ability to reform the economy further was somewhat hampered, first by coalition politics and then by opposition non-cooperation. Nevertheless, his government passed landmark legislation like the National Food Security Act and the National Rural Employment Guarantee Act, targeted at segments of Indian society that are often overlooked. He also sought to strengthen Indian institutions and apply checks and balances on the government. The Right to Information Act stands out as one of the few pieces of legislation where the Indian government has subjected itself to greater scrutiny. And some of the reforms his government contemplated but could not enact, such as the goods and services tax, were enacted by the subsequent National Democratic Alliance government.

هذه القصة مأخوذة من طبعة December 28, 2024 من Financial Express Kochi.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

هذه القصة مأخوذة من طبعة December 28, 2024 من Financial Express Kochi.

ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.

المزيد من القصص من FINANCIAL EXPRESS KOCHI مشاهدة الكل
Financial Express Kochi

Sebi Relaxes Settlement Norms for Dormant Accounts

SEBI ON MONDAY said it has eased norms for the settlement of client funds in trading accounts that have remained inactive for 30 days.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

PSBs turn net sellers of govt securities

STATE-OWNED BANKS HAVE turned net sellers of government bonds (G-Secs) amid a widening liquidity deficit, said traders.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

RBI should ease its tight grip on rupee, says Viral Acharya

FORMER RESERVE BANK of India deputy governor Viral Acharya said the central bank should ease its tight grip on the rupee, a view that comes amid uncertainties over whether the new governor will maintain his predecessor's policy of limiting currency swings.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

Rupee at lifetime low as equities slide; tilt bearish

THE RUPEE DECLINED 4 paise to settle at a record low of 85.83 against the dollar on Monday, amid a steep fall in domestic equity markets and unabated outflow of foreign capital.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

PSBs' share in 'fair value' investments declines, private banks report gains

STATE-OWNED BANKS' SHARE in the 'fair value through profit and loss investment portfolio' (FVPTL), the newly-introduced investment category, has gone down to 37.2% from around 45%. Meanwhile, the share of private banks has risen to nearly one-third, according to the Reserve Bank of India's (RBI) latest Financial Stability Report.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

Bank shares plunge up to 8% amid weak business updates

Historically, the third quarter is not a great one for banks

time-read
1 min  |
January 07, 2025
Financial Express Kochi

D2C firm Frido set to be ₹200-cr brand

ARCATRON MOBILITY'S DIRECT-TO-CONSUMER (D2C) arm Frido is on track to become a ₹200-crore brand.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

Former executives at OYO, upGrad launch mobility platform

MAYANK KUMAR, FORMER CEO of upGrad, and Ayush Mathur, a former senior leader at OYO, have launched a new mobility platform for blue-collar workers called BorderPlus.

time-read
1 min  |
January 07, 2025
Financial Express Kochi

Adani Group lines up petchem foray

Adani Petrochem and Thailand's Indorama will hold 50% stake each in the JV

time-read
1 min  |
January 07, 2025
Financial Express Kochi

RIL arm launches Raskik Gluco Energy drink, adding fizz to hydration market

● Beverage to rival Tata Consumer, Dabur products

time-read
1 min  |
January 07, 2025