History Will Be Kinder To The Original Reformer

Singh, an economist-turned central bank governor was called at an hour of crisis for India to helm the finance ministry. He brought in India's version of ‘Perestroika’ dismantling the bureaucratic 'Control Raj' of permits and licenses, unleashing the stagnant Indian economy to soar to heights unheard of till then. India’s GDP growth which had averaged just 3.5 per cent annually till then, rose dramatically to over 7 per cent, at times touching even 9 per cent.

As Finance Minister from 1991 to 1996 in Prime Minister P V Narasimha Rao’s Cabinet, Singh became known as the architect of India’s liberalisation. His reforms had a profound social impact as well.

The automobile industry flourished, with car manufacturers setting up factories across India, making cars affordable to the middle class and two-wheelers accessible to lower-income groups.

Families which once struggled with crowded public transport were soon able to buy cars — Maruti, Daewoo, or Tata — marking a major shift in daily life.

Rising incomes transformed India’s dietary habits, leading to better protein consumption, while electronic gadgets, once a rarity due to high prices, became household necessities, as competition drove down costs.

Perhaps most significantly, Singh opened India to the global stage. International markets flocked to India, and Indian companies expanded abroad, showcasing the nation’s goods, talents and expertise.

As a result, India re-established itself as a global economic power, transitioning from the industrial age into the era of Artificial Intelligence and Robotics.

But Singh was not only an economist; he was also a skilled politician and a global statesman. In 2004, when Congress President Sonia Gandhi declined the position of PM, Singh assumed the role. He allowed Mrs Gandhi to manage the party, while he focused on policy, with his trusted deputy, Pranab Mukherjee, handling the government’s day-to-day affairs.

One of his key achievements was bringing India into the global nuclear fold. Although India had become a nuclear power in 1974, it was largely ostracised by the international community.

Singh’s successful negotiations with the US placed India in the exclusive nuclear club, despite strong opposition from his Leftist allies, who deserted him over the deal.

After the 2008 Mumbai attacks, Singh used diplomatic strategy to isolate Pakistan’s rulers and their proxies, transforming a regional issue into a global one. This approach allowed India to gain new allies and strengthen its position, without resorting to military action.

However, Singh’s second term saw increased discontent, partly due to corruption scandals involving his Cabinet ministers, which allegedly cost the country crores of rupees.

The Opposition blocked Parliament, leading to policy paralysis and a significant economic downturn. Senior BJP leader L K Advani labelled him as India’s "weakest PM". Singh, however, defended his record, emphasising his government’s commitment to the country’s welfare.

Where Singh truly struggled was in navigating the art of image building. He failed to effectively communicate his achievements, and many of his policies were only fully appreciated years afterwards.

Despite this, over time, many will remember Singh for the lasting positive changes he brought to India’s economy and society, often without much fanfare. History will likely judge him more favourably as the years unfold.