How Dr. Manmohan Singh Became Finance Minister: The 1991 Phone Call That Changed India's Future | Paisa Live

In June 1991, Dr. Manmohan Singh was unexpectedly approached by then Prime Minister PV Narasimha Rao to become the Finance Minister. Initially, Singh thought it was just another empty political promise, so he went to work at the UGC office. However, his phone rang again, and this time it was Rao himself, calling to inform Singh that he would be taking the oath as Finance Minister that very day. Singh agreed, but on the condition that he would have full support from Rao. The Prime Minister assured him that if the policies succeeded, credit would go to all, but if they failed, Singh would take responsibility. Singh accepted the challenge and later took the oath as Finance Minister at Rashtrapati Bhavan, marking the beginning of a new chapter in India's economic reform journey.