NEW DELHI: The various policies introduced by Manmohan Singh played an important role in lifting India’s economic growth and making it a powerhouse, top business tycoons said while remembering the former Prime Minister and Finance Minister who passed away on Thursday at the age of 92.
Aditya Birla Group chairman Kumar Mangalam Birla said Singh’s most defining contribution was the 1991 reforms, which spurred a multi-decadal economic boom and more importantly reshaped the calculus of possibilities for India and Indians.
N Chandrasekaran, chairman, Tata Sons, stated that Singh was one of the stalwarts who envisioned a new, liberalised India that is taking its rightful place in the world.
“Singh will always be remembered for his visionary thinking and deep insights while always being humble and upholding his personal values,” added Chandrasekaran.
Baba Kalyani, chairman & MD of Bharat Forge, said the Budget, the New Industrial Policy and Foreign Trade Policy that Singh announced in 1991 are pathbreaking reforms in India’s economic history, that heralded the country’s transformation from a command and control-based to a free-market economy and set course for India and Indian companies to participate in the globalisation era.
“While the 1991 economic reforms were his defining moment, Singh’s terms as the Prime Minister will be remembered for the historic US-India Nuclear deal, setting up the UIDAI and subsequent launch of AADHAR, the MNREGA scheme promoting rural infrastructure creation among others,” said Kalyani. Singh served as the Prime Minister of India between 2004 and 2014. During this period, India saw a decade of robust economic growth, with GDP growing at an average of 6.9% annually.
“Prime Minister, Dr. Manmohan Singh, was a gentleman, a scholar, and a value-based politician. His leading the economic reforms, under the guidance of Sri Narasimha Rao, is what laid a strong and durable foundation for the acceleration of India’s economic growth. Therefore, every Indian should be extremely grateful to this extraordinary individual for enhancing the prosperity of our country.” - Narayana Murthy, founder, Infosys Limited
Force behind US-India nuclear deal, MNREGA
Singh served as the Prime Minister between 2004 and 2014. During this period, India saw a decade of robust growth, with GDP growing at an average of 6.9%. He will be remembered for historic US-India nuclear deal, setting up UIDAI and launch of AADHAR, the MNREGA scheme