Manmohan Singh Death: How Manmohan Singh’s Economic Policies Shaped the Future of Indian Economy

Manmohan Singh Death: Former Prime Minister Dr. Manmohan Singh, a key role in India’s economic revolution, died on Thursday at the age of 92 in Delhi. Dr. Singh was well-known for his considerable accomplishments as Finance Minister and later as a two-term Prime Minister when he oversaw reforms that altered India's financial landscape. During a severe economic crisis in 1991, with foreign reserves falling below $1 billion, he implemented broad economic liberalization policies. Dr. Singh presented the groundbreaking budget on July 24, 1991, dismantling industry licensing, reducing export subsidies, and encouraging foreign investment, laying the groundwork for India’s sustained economic growth. These changes not only revitalized the economy but also offered doors for private sector expansion and international trade, placing India as a competitive global player.

Manmohan Singh Economic Policies

Even after the transformative reforms of 1991, Dr. Singh’s economic expertise helped guide India through difficult times. During the 2008 global financial crisis, he adopted policies that contributed to economic stability, resulting in 6.7% GDP growth from 2009 to 2014. His initiatives strengthened India’s resilience and enabled it to become a financial superpower, with real GDP increasing tenfold since 1990. Under his leadership, India emerged as a significant global economy, with the potential to become the world’s third-largest in the near future. Dr. Singh’s courageous steps have not only bolstered India’s economic position but also increased its global influence, creating a lasting legacy of growth and wealth.