I 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.
Bu hikaye Financial Express Mumbai dergisinin December 28, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Financial Express Mumbai dergisinin December 28, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
HUL nears deal to buy D2C brand Minimalist for 3k cr
Profitable since FY21,beauty startup outlier in the space
US H-1B visa debate intensifies ahead of Trump's inauguration
THREE WEEKS AHEAD of Trump's inauguration on January 20, the debate on foreign guest workers visas for highly skilled professionals, the H-1B, has intensified which has literally created divisions in both the Democratic and the Republican parties.
Over 400 flights delayed at IGI due to bad weather
More than 400 flights were delayed at the airport in the national capital on Friday morning as low visibility conditions due to dense fog disrupted operations, according to an official.
Rohit no more part of selectors red-ball plan beyond Australia tour
AT THE TOSS, with Jasprit Bumrah in the middle, and as the Indian XI lined up for the national anthem at the Sydney Cricket Ground (SCG), Rohit Sharma's absence was conspicuous.
Unclaimed insurance amount over ₹20k cr: Irdai
THE LIFE INSURANCE sector has reported unclaimed amounts totalling ₹20,062 crore as of March 2024, according to the Insurance Regulatory and Development Authority of India (Irdai).
More flights to Thailand and Malaysia as visa-free entry spurs Indian traffic
IN THE AUTUMN of 2023, Thailand and Malaysia extended visa-free entry to Indian nationals in the hope of attracting tourists from the country at a time when they were travelling overseas like never before.
Farm protests: Punjab seeks Chouhan's help
THE AAP-LED Punjab government has knocked on the Centre's doors, seeking Union agriculture minister Shivraj Singh Chouhan's help to end the impasse over the ongoing farmers' protest at the Punjab-Haryana border.
PM targets Kejriwal: I built homes, not Sheesh Mahal
OPENING THE BJP's campaign in Delhi for the Assembly elections likely next month, Prime Minister Narendra Modi Friday targeted Arvind Kejriwal, chief of the ruling AAP, saying he could have built a \"Sheesh Mahal\" for himself but chose to give people, especially the poor, a home of their own.
India Raises Dam Plan With China
Urges China to ensure interests of downstream states
Gold prices flat at ₹79,700
GOLD PRICES TRADED almost flat at ₹79,700 per 10 g in the national capital on Friday, according to the All India Sarafa Association.