Dr. Manmohan Singh, the present Prime Minister of India was born on September 26th, 1932 in Gah (West Punjab) now in Pakistan. Known as a gentleman politician, Dr.Manmohan Singh has brought about far reaching reforms in India's economic growth.

 

    His father, Gurumukh Singh was a fruit merchant and his mother was Amrit Kaur. He was one of their ten children. He had his earlier education in Punjab University and then in Oxford and Cambridge. His potential was evident when he won Cambridge's prestigious Adam Smith Pize in 1956. He also won the Wright's Prize for distinguished performance at St. Johns's College, Cambridge in 1955 & 1957. His doctoral thesis was on India’s export-promotion activities.

    After his return to India he served as lecturer in Punjab University (1957-1966). He then went on to serve the UNCTAD (United Nations Council on Trade and Agricultural Development) for about three years till 1969. Then he joined the Delhi School of Economics as a professor.

    Two years later, his academic career was cut short and he joined the government to serve in various capacities. He served as Economic Adviser, Finance Secretary, Governor of RBI (Reserve Bank of India), Deputy Chairman of Planning Commission and Chairman of UGC (University Grants Commission) till the early 90's.

    It was in 1991 that Dr. Singh was asked to take up the portfolio Finance Minister in P.V. Narasimha Rao's cabinet. It came as a surprise to him. His friends said, “You are going to be a scapegoat. You will not last for more than six months”. Dr. Singh replied, “I have held several civil service posts, but only now I have got the opportunity to be a part of politics. There is a slender chance of being successful; in that case I would have a footnote in India's history”.
When he took over, India's economy was in shambles and the country was plunging into bankruptcy. India had an unsustainable fiscal deficit of 8.5 per cent of the GDP. Its foreign exchange reserves had sunk to a very low level. In his maiden speech as Finance Minister, he quoted Victor Hugo's- "No power on earth can stop an idea whose time has come". Dr. Singh decided to slowly start the process of restructuring the economy.

    He put one condition before the Prime Minister, Mr. Narasimha Rao. He said he needed a free hand with minimum interference. The Prime Minister fully supported Dr. Singh's vision and India embarked on a path of reforms. He slashed red tapism, simplifled the tax system, and removed stifling controls and regulations to create an environment conducive to business. This resulted in economic revival, industrial growth, control of inflation and high growth rate. His liberisation policy edged India as a global player and helped India to manifolds.

    He changed the way the corporate India thinks and with it the lives of millions of middle-class Indians. He changed the outlook of foreigners towards India. He has won several awards during his illustrious career viz., the Padma Vibhushan (1987), Euro Money Award, Finance Minister of the year (1993) and Asia Money Award and Finance Minister of the year for Asia (1994).

    The architect of India’s economic reforms has nothing but admiration from all fellow Indians. He is hard working, meticulous and a humane. He leads a simple life, and spends most of his time reading. He has a photographic memory and prepares all his lectures and speeches himself. India is indeed fortunate to have Dr. Manmohan Singh as its Prime Minister at present.

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