A two-time Prime Minister, Dr Manmohan Singh passed away on Thursday at the age of 92. Known for his sharp vision, Singh’s legacy is marked by the 1991 reforms that opened India to the global economy and averted economic collapse
In 1991, as Finance Minister under P.V. Narasimha Rao, Singh addressed India's economic crisis, marked by low productivity and rising inflation. His policies successfully increased India's foreign exchange reserves from under $1 billion to $10 billion between June 1991 and June 1993
His policies also strengthened India's relations with OECD countries, including the UK, the US, Germany, Austria, and Italy
Former PM stressed public investment to spur private sector growth and expand infrastructure. Despite India’s fiscal deficit nearing 8% of GDP, the highest among developing nations, his reforms led to GDP growth of over 8% annually by 2003, when he became Prime Minister
As Reserve Bank of India's (RBI) Governor from 1982 to 1985, Manmohan Singh played a key role in stabilizing the Indian Rupee's exchange rate against the US Dollar
As Prime Minister, Manmohan Singh launched transformative initiatives, including the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) in 2005, ensuring 100 days of wage employment annually for rural households
The 2008 Civil Nuclear Deal with the United States stands as one of Singh's key achievements, as his government overcame political and diplomatic challenges to secure a deal vital for India's energy future
Dr Singh's government implemented the Right to Information Act (2005), promoting transparency and accountability by granting citizens access to public information