The Legacy of Manmohan Singh: Biggest Achievements and Failures of India’s Economist Prime Minister | Architect of Modern India’s Economy

Dr. Manmohan Singh, the 13th Prime Minister of India From 2004 to 2014, is celebrated as a transformative leader and a brilliant economist who played a pivotal role in shaping India’s modern economy. Born on September 26, 1932, in Gah, British India (now in Pakistan), Singh’s journey from humble beginnings to becoming one of India’s most respected statesmen is truly inspiring. 

A scholar of international repute, Singh earned a doctorate in economics from Oxford University and held key positions such as Governor of the Reserve Bank of India and Finance Minister before becoming the Prime Minister in 2004. Known for his intellect, humility, and dedication, Dr. Singh’s tenure as Prime Minister from 2004 to 2014 was marked by remarkable economic growth, groundbreaking reforms, and significant challenges. However, on 26 December 2024, biggest economist and ex PM of Dr. Manmohan Singh was died. As a responsible citizen, its important for us to understand his work as Prime Minster of India

As Prime Minister from 2004 to 2014, Singh presided over a period of unprecedented economic expansion and social welfare reforms, even as his government faced significant challenges, including corruption scandals and policy paralysis. Known for his integrity, intellect, and soft-spoken demeanor, Singh’s leadership combined economic pragmatism with a vision for inclusive development. 

Manmohan Singh’s Major Achievements as Prime Minister

1. Sustained Economic Growth Dr. Singh’s leadership witnessed India’s GDP growth averaging around 8% during his tenure, positioning India as one of the fastest-growing economies globally. Key initiatives included boosting the rural development and infrastructure sectors through public-private partnerships. Singh’s government prioritized attracting foreign direct investment (FDI) by creating a more investor-friendly environment. 

2. India-US Civil Nuclear Agreement : In 2008, Manmohan Singh achieved a historic diplomatic milestone by signing the India-US Civil Nuclear Agreement. This agreement ended India’s nuclear isolation and allowed access to civilian nuclear technology, strengthening India’s energy security and enhancing its global stature as a responsible nuclear power.

3. Rural Employment Guarantee Act 2005 (NREGA)
   Manmohan Singh’s government introduced the National Rural Employment Guarantee Act (NREGA) in 2005, providing employment to millions of rural households. This transformative scheme became a safety net for India’s rural poor, offering at least 100 days of guaranteed work annually. By empowering rural workers, it boosted rural incomes and reduced poverty, becoming one of the largest social welfare programs globally. However, this was get renamed as Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) 

4. Right to Education Act, 2009 : Recognizing education as a fundamental right, Singh’s government enacted the Right to Education Act in 2009. This landmark legislation ensured free and compulsory education for children aged 6 to 14, addressing India’s literacy gap and laying the foundation for long-term socio-economic development.

5. Right to Information Act, 2005 : The Right to Information (RTI) Act, enacted in 2005 under Singh’s government, empowered citizens by promoting transparency and accountability in governance. It allowed individuals to seek information about government operations, exposing corruption and inefficiencies. The RTI Act became a powerful tool for civil society and is considered a cornerstone of India’s democratic framework.

Failures and Criticisms of Manmohan Singh’s Tenure

1. Corruption Scandals
   Manmohan Singh’s tenure was marred by high-profile corruption scandals, including the 2G spectrum scam, the Commonwealth Games scam, and the coal allocation scam. Although Singh’s personal integrity remained unquestioned, his inability to act decisively against corruption within his government drew severe criticism.

2. Inflation and Rising Prices
   Persistent inflation, especially in food and fuel prices, became a major challenge during Singh’s tenure. The rising cost of living eroded public trust in the government, impacting the middle and lower-income groups most severely. The soaring cost of living disproportionately affected the middle and lower-income groups, leading to widespread dissatisfaction.

3. Policy Paralysis The second term of Singh’s government (2009-2014) was often criticized for its inability to implement critical reforms. Internal conflicts within the coalition government and opposition from within his own party led to delays in decision-making resulted in declining investor confidence and sluggish economic growth.

4.  Weakened Political Authority : Despite his stature as an economist, Singh was often perceived as a politically weak leader. Many key decisions were seen as influenced by Congress party president Sonia Gandhi, leading to the narrative that Singh lacked autonomy. This dual power structure undermined his authority and created a perception of inefficiency in governance. The perception was created that Manmohan Singh lost his legitimacy in his party and worked as a puppet of Sonia Gandhi

Manmohan Singh’s Role in Saving the Indian Economy

1. 1991 Economic Reforms: The LPG Model  : Before becoming Prime Minister, Manmohan Singh served as India’s Finance Minister in 1991 during a severe economic crisis where our a severe balance-of-payments crisis. Key measures included devaluing the Indian rupee, reducing import tariffs, and dismantling the license raj system that had stifled industrial growth. Singh’s bold policies attracted foreign investment, stabilized the economyHe introduced the landmark Liberalization, Privatization, and Globalization (LPG) reforms, opening India’s economy to foreign investment and modernizing its financial system. These reforms transformed India into a competitive global economy, pulling millions out of poverty.

2. Leadership During the 2008 Global Recession : As Prime Minister, Dr. Singh’s economic expertise proved invaluable during the 2008 global financial crisis. His government introduced fiscal stimulus packages, including increased public spending, tax cuts, and support for industries like real estate and automobiles. These measures boosted domestic demand and shielded India’s economy from the worst effects of the crisis. While global economies contracted, India maintained a growth rate of over 6%, further solidifying Singh’s reputation as a skilled economist and leader. Singh’s economic strategies during the 2008 global recession safeguarded India’s growth trajectory.

The Legacy of Manmohan Singh

Manmohan Singh’s legacy is one of contrasts—a visionary economist who drove transformative reforms but struggled with political challenges. His tenure is remembered for its bold initiatives like the 1991 economic reforms, NREGA, and the India-US nuclear deal, which elevated India’s global standing. He will also be credited for steering the nation through two major economic crises—1991 and 2008—with unmatched expertise.

However, his legacy is also marked by missed opportunities and governance failures. The corruption scandals during UPA-2 and his perceived lack of political assertiveness overshadowed his achievements, leading to a decline in public trust. Despite these setbacks, Singh’s contributions to India’s economic and social progress remain unparalleled.

In hindsight, Manmohan Singh’s life and career serve as a lesson in the complexities of leadership. His journey highlights the importance of balancing economic vision with political dynamism. As India continues to rise on the global stage, the foundations laid by Singh will remain a cornerstone of its success, ensuring his legacy endures for generations.

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