The man, who changed the course of India’s economic history, once hoped, almost plunging in despair, that “history will be kind to me than the contemporary media, or for that matter, the opposition parties in the parliament.” A soft spoken, sometimes ridiculed in the parliament as a ‘mouni baba’ (a dumb sage), Manmohan Singh had to bear it all. His UPA two government was inflicted with one scam after another; the opposition kept hammering him and he stood stoically in silence. Finally, the man rests in eternal peace; and the same opposition who had hounded him, takes U turn and pays homage to his departed soul. His funeral is conducted with state honours.
One may debate whether Dr Singh was more successful as a finance minister or as a prime minister. But the fact remains that it was he who once brought the country back from economic disaster. It was he who dared to challenge the left partners of the first UPA government and go for the nuclear deal with the US government because he knew if India has to progress, its relations with the US had to improve. If the present BJP government takes pride in its excellent relations with the US, it all started with Manmohan Singh’s foresight.
In India, economic liberalisation- freedom from the ‘license raj’- came in the 90s under Manmohan Singh’s leadership. There are critics who said it was the Prime Minister Narasimha Rao, and not the finance minister Singh, who really brought in the change. But when the President of the US congratulated Rao on his success, he pointed his finger to his finance minister saying that all credit goes to him. The reforms which we see all round today, started with him. From a very humble beginning, he had a lateral entry into the government and rose to become the governor of the Reserve Bank, the economic advisor to the government of India before he was chosen to be the finance minister by Narasimha Rao. It was a difficult decision taken by Rao to choose Dr Singh over Pranab Mukherjee who had earlier been the FM under whom Dr Singh had worked as the Governor of RBI. The initial hesitations being over, the two Dr Singh and Mukherjee, maintained the best working relationships.
Some say, Dr Singh was a professional economist who understood little of politics. But in essence, economics is the quintessence of politics and Dr Singh’s latter moves as a prime minister proved the saying quite effectively. Critics described him as a ‘shadow’ of Sonia Gandhi, after she scotched the rumours of her prime ministership and the Congress made Dr Singh the PM instead. Patient and cool headed, Dr Singh revealed his determination when he staked his position to get the Nuclear Bill through. The Left walked out of the government, but his ministry survived.
With liberalisation, India emerged from the Nehruvian socialist model of economy. The privatization moves were severely criticised. He was accused of selling off nation’s assets. But in the international context, one has to study the turnaround of China who at one time had similar growth rates like India. China went for economic liberalisation in the 80s – ten years ahead of India. The world can witness the progress in China today. But India being a democratic country, the reform moves were slow - sometimes perhaps too slow.
But Manmohan Singh persisted on change. He initiated bank reforms, tax reforms, judicial reforms and even structural reforms. But his efforts got thwarted in the parliament both by the opposition and from members of his own party. Rahul Gandhi tearing the papers of some bills in the parliament is a case in point. History, it is hoped, will be kind to him someday.
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