Former Prime Minister Manmohan Singh is remembered as a leader who preferred action over words, known for his quiet yet impactful leadership. His tenure as Finance Minister from 1991 to 1996 under Prime Minister PV Narasimha Rao marked a transformative era for India, with Singh playing a pivotal role in reshaping the country's economic landscape.
It was PV Narasimha Rao who brought Manmohan Singh into politics. In 1991, facing a severe economic crisis, Rao nominated Singh, then the Governor of the Reserve Bank of India (RBI), to the Rajya Sabha and appointed him as Finance Minister. Together, they initiated the policy of Liberalization, Privatization, and Globalization, which became the foundation for India’s economic growth. Singh's reforms in privatization, public institutions, and the banking sector have had a lasting impact on India's economy.
The reforms introduced by PV Narasimha Rao and Singh are often regarded as crucial in positioning India on the global economic stage, marking a significant shift in India's approach to economic policy. Singh’s leadership, marked by humility and a focus on results rather than rhetoric, earned him recognition as the ideal disciple of Rao's vision.
A Special Connection with Warangal
Manmohan Singh also shares a unique connection with Warangal in Telangana. In 1992, as Finance Minister, he attended the convocation ceremony of Kakatiya University, held at the Regional Engineering College (REC) in Kazipet. During the event, Singh presented awards and delivered an inspiring speech, further strengthening his ties with the region.
Champion of Employment and Farmers' Welfare
Singh's tenure as Prime Minister saw the continuation of the economic reforms he initiated as Finance Minister. He was instrumental in introducing key rural employment initiatives, such as the National Rural Employment Guarantee Act (NREGA), which provided vital livelihood opportunities in India's villages.
Singh also pioneered large-scale agricultural loan waivers, most notably in 2008, when he announced a ₹72,000 crore loan waiver benefiting over 30 million farmers. This decision was one of the key factors in the UPA’s return to power in the subsequent general elections, further cementing his legacy as a champion of economic reform and social welfare.
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