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.
Esta historia es de la edición December 28, 2024 de Financial Express Delhi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 28, 2024 de Financial Express Delhi.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Sterlite Grid 32 gets over ₹2,400 cr via listed NCDs
FUNDS TO BE USED TO REFINANCE MUMBAI PROJECT
Festive boost to Titan biz growth in Dec qtr
TITAN'S STANDALONE BUSINESS registered a 24% year-on-year growth, the Tata Group company said on Monday while providing an update for the December 2024 quarter.
SC Transfers Amazon, Flipkart's Plea Against CCI to Karnataka HC
THE SUPREME COURT on Monday transferred to Karnataka High Court petitions of Amazon and Flipkart, challenging a Competition Commission of India (CCI) order for a probe into the e-commerce giants for alleged malpractices.
Lodha pre-sales soar to record ₹4,510 cr in Q3
MUMBAI-BASED REAL ESTATE developer Macrotech Developers (also known as Lodha Group) on Monday said it has achieved best ever quarter pre-sales of ₹4,510 crore, showing 32% year-on-year (y-o-y) growth in Q3FY25.
Residual benefit of tariff hikes to boost telcos' Arpu in Q3
KEY METRIC PROJECTED TO RISE 3-5%
Nxtra, Bizongo lead emerging unicorns
FIVE INDIA STARTUPS VALUED AT OVER $900 MN
Isro to dock SpaDeX satellites on January 9
ISRO ON MONDAY said the docking experiment of SpaDeX satellites scheduled for January 7 is now postponed to January 9.
Services PMI rises to 4-month high in Dec
DEMAND BUOYANCY CONTINUES TO DRIVE GROWTH
Govt Mulls Hallmarking for Silver Jewellery
FOOD AND CONSUMER affairs minister Pralhad Joshi on Monday asked the Bureau of Indian Standards (BIS) to consider implementing mandatory hallmarking for silver and silver artifacts following consumer demands.
Centre eyes private capital for ₹9L-cr grid expansion
INDIA IS ASKING states to attract more private capital to accelerate the expansion of its power transmission network, part of a plan to revamp the country's grid and accommodate more clean power.