https://www.financialexpress.com/opinion/manmohan-singh-the-constrained-genius/3701578/
Manmohan Singh – The Constrained Genius
Born on September 26, 1932, Singh's journey from an academic economist to becoming India's Prime Minister was marked by significant achievements, and some notable controversies too.
A series of scams, including the 2G spectrum scandal, Commonwealth Games corruption, and coal block allocations, further dented his image, giving fuel to a narrative of corruption and ineptitude under his watch. The opposition, headed by the BJP, managed to effectively leverage print, television, and social media to megaphone these allegations, bolstered by till-then-unheard-of fantastic figures churned out by the then Comptroller and Auditor General, Vinod Rai. Notably, Rai, who rose to prominence during this turbulent period, later enjoyed multiple high-profile positions during the NDA’s rule following the ouster of Singh’s government in the 2014 general elections.
Since Manmohan’s departure from power, the narrative around the Indian economy and its health has shifted. Under subsequent NDA rule, the economy has seen periods of high volatility, often driven by anomalous headline-grabbing policy decisions rather than the steady, reform-driven approach that Singh embodied. His era was characterized by robust GDP growth, averaging around 8.5% for most of his tenure (notably, without any allegations of data suppression or manipulation), but post-Singh, India has faced criticisms for economic policy decisions that seem more reactive to political cycles than to long-term economic strategy. The Indian Rupee has depreciated significantly, reaching an all-time low, which has sparked debates on economic management, inflation control, and export competitiveness. This shift from a time of economic reform and stability to one where the economy is often discussed in terms of immediate political gains or losses reflects a departure from the disciplined economic governance Manmohan Singh was known for. The economic policies under subsequent governments have faced criticism for lacking the depth and foresight that characterised Singh’s approach, leading to, what has become, a less predictable economic landscape.
Manmohan Singh’s legacy will remain one of profound economic transformation juxtaposed with political controversies. His tenure saw India emerge as a significant player in global economics, yet it ended with criticisms over governance and autonomy. His death marks the end of an era where economic policy was driven by a statesman known for his intellect and integrity, and a somewhat silent yet impactful leadership style. His contributions to the Indian economy can never be undermined and will be long remembered, even as the country navigates new economic realities in his absence.