2008 global meltdown

Dr. Manmohan Singh, India’s 13th Prime Minister and a globally renowned economist, passed away on Thursday at the age of 92. Known as the architect of India’s liberalisation in the 1990s and for his calm leadership during crises, Singh leaves behind a legacy etched deeply in the nation’s political and economic history. A figure of quiet confidence and humility, Dr. Singh famously remarked, “History will be kinder to me than the media,” during an interaction with Hindustan Times as he prepared to step down after the 2014 General Elections. Acknowledging the criticism of his administration, Singh expressed faith that his tenure would be judged more favourably by future generations, considering the formidable challenges he navigated during his decade in office. Manmohan Singh’s political career began in 1991 when he was appointed Finance Minister in P.V. Narasimha Rao’s cabinet. His groundbreaking reforms are credited with steering India out of an economic crisis, ushering in an era of liberalisation and globalisation. Later, as Prime Minister from 2004 to 2014, Singh led India to achieve an average GDP growth rate of 7.6%, while fostering closer ties with Western nations. However, Singh’s tenure was not without controversy. His second term was overshadowed by scandals, including the Coal Allocation and 2G spectrum scams, which tarnished his administration’s image. Despite this, Singh remained steadfast in acknowledging areas of improvement, notably in employment generation, inflation control, and corruption combat. Remembered for his soft-spoken yet resolute demeanor, Singh’s leadership during the 2008 global financial crisis and his stewardship of a challenging coalition government will be seen as defining chapters in his legacy. As India mourns his passing, the nation reflects on a leader whose vision and integrity profoundly shaped its modern trajectory. Source: Hindustan Times Photo Credit: Hindustan Times