Honouring Dr Manmohan Singh as Parliament reconvenes

Soon after this article appears, on February 1, Finance Minister Nirmala Sitharaman will present her eighth Budget (six annual and two interim budgets). She will not fail to remind us of India’s economic achievements on her watch. From navigating the global financial crisis to rebounding strongly after the disruptions of COVID-19, the resilience of our economy is undeniable. Between 2016 and 2023, startups alone contributed a staggering 10–15 percent to GDP growth, underscoring their role as the driving force behind India’s economic engine. According to the Confederation of Indian Industry, these entrepreneurial ventures are projected to generate a trillion dollars for the economy and create fifty million new jobs by the fiscal year 2029–2030.

This remarkable trajectory of growth and innovation owes much to a transformative moment in India’s history, guided by the luminous intellect and steadfast resolve of a statesman whose loss we mourn today, whose vision reshaped the nation’s destiny. In 1991, Dr. Manmohan Singh, then Finance Minister, stood in Parliament and declared that “no power on earth could stop an idea whose time had come.” With those words, he not only heralded a new economic dawn but also embodied a quiet, unyielding determination to steer India out of the shadows of stagnation and into an era of global relevance.

Today, as we reflect on his profound legacy, we are met with the solemn reality of his passing at the end of the year—a loss that resonates deeply across the nation. Dr. Singh was more than the architect of India’s economic resurgence; he was a living testament to the enduring Idea of India, one rooted in service, intellect, and compassion. His reforms did not just liberalise the economy; they liberated millions of Indians to dream bigger, aspire higher, and thrive. Even as we navigate an ever-changing economic and political landscape, his contributions remain the foundation of much that we celebrate today. At this sombre juncture, we pay tribute to a leader whose courage and humility will continue to inspire generations, reminding us that true greatness lies not just in transforming economies but in uplifting lives.

Dr. Singh did not just craft economic policies; he laid the foundation for a transformed India. As Finance Minister in 1991, he courageously dismantled the license-permit-quota raj, liberalizing an economy constrained by regulation and inefficiency. His visionary reforms not only averted a full-blown economic crisis but opened up avenues for trade, innovation, and investment that would fuel India’s growth for decades to come. The seeds sown by Dr. Singh resulted in a flourishing private sector, job creation across industries, and a burgeoning middle class that today powers the engine of our nation’s progress.

Yet, it would be myopic to view him solely as the architect of India’s economic liberalisation. Dr. Singh understood that for economic freedom to have meaning, it must translate into social and political empowerment. His vision was inclusive, his leadership transformative. Under his stewardship as Prime Minister, India saw unprecedented efforts to reduce inequality and empower the marginalised. The Mahatma Gandhi National Rural Employment Guarantee Scheme bolstered rural incomes and purchasing power, anchoring India’s economy amidst global uncertainty. His government introduced the Aadhaar scheme, providing a digital identity to millions of Indians who had previously been invisible to the state, thus strengthening their access to welfare and services.

Moreover, the Right to Information Act of 2005 epitomises Dr. Singh’s commitment to participatory democracy. By empowering citizens to hold public officials accountable, this landmark legislation deepened the transparency of governance and the trust of the governed. The Right to Education Act of 2009 brought millions of children into classrooms, investing in the human capital that would define India’s future. These initiatives remain vibrant testimonies to his belief in a more equal, just, and educated India.

Even today, under the very different stewardship of Prime Minister Narendra Modi, the frameworks established by Dr. Singh continue to endure and thrive. Programs like Aadhaar have expanded, MGNREGA remains a lifeline for rural India, and the liberalised economy he unlocked continues to draw international investment. His legacy serves as the foundation upon which successive governments have built—his policies not tethered to partisan boundaries but imbued with the universality of their vision.

Today, as I pause to reflect, I am reminded of the indelible mark Dr. Manmohan Singh has left on India’s economic trajectory. With a quiet yet resolute vision, he steered the nation away from the stifling embrace of protectionism and into the dynamic currents of global markets. His policies, crafted with precision and foresight, not only transformed the Indian economy but also elevated its standing on the world stage. Dr. Singh’s legacy is one of pragmatic reform, intellectual rigor, and a deep belief in India’s potential to rise. It is a legacy that endures, not merely in the statistics of growth but in the continuing promise of a prosperous, modern India.

As we reflect on the profound transformation Dr. Singh has brought to India, it's impossible to ignore the remarkable changes within our economy that he helped set into motion. His vision for economic progress laid the foundation for what has now become an entrepreneurial renaissance, a movement that has not only reshaped our economic landscape but positioned India as a leader on the global stage. The surge of innovation and entrepreneurship, especially in the last two decades, speaks to the indelible impact of his policies, which have nurtured an environment where businesses and ideas can thrive.

As Parliament reconvenes in fractured and fractious times, when divisive ideologies threaten to overshadow the spirit of collective progress, Dr. Singh’s life serves as a clarion call. He reminds us that governance must be an act of service, not of spectacle, and that true leadership lies in lifting others to greater heights. His steadfast and selfless service exalted every Indian and transformed India into a more resilient, equitable, and empowered nation. As we enter the Budget session of Parliament, let us bow our heads in remembrance of the man who, 24 Budgets ago, made it possible for all of us to dream of a different India.