father, Gurumukh Singh
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
and Cambridge. His potential was evident when he won Cambridge's
Adam Smith Pize in 1956. He also won the Wright's Prize for
performance at St. Johns's College, Cambridge in 1955 & 1957. His
thesis was on India’s export-promotion activities.
his return to India
served as lecturer in Punjab University (1957-1966). He then went on to
the UNCTAD (United Nations Council on Trade and Agricultural
about three years till 1969. Then he joined the Delhi School of
Economics as a
years later, his
career was cut short and he joined the government to serve in various
capacities. He served as Economic Adviser, Finance Secretary, Governor
(Reserve Bank of India), Deputy Chairman of Planning Commission and
UGC (University Grants Commission) till the early 90's.
in 1991 that Dr.
was asked to take up the portfolio Finance Minister in P.V. Narasimha
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
have held several civil service posts, but only now I have got the
to be a part of politics. There is a slender chance of being
that case I would have a footnote in India's history”.
he took over, India's
economy was in shambles and the country was plunging into bankruptcy.
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
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.
Prime Minister, Mr. Narasimha Rao. He said he needed a free hand with
interference. The Prime Minister fully supported Dr. Singh's vision and
embarked on a path of reforms. He slashed red tapism, simplifled the
system, and removed stifling controls and regulations to create an
conducive to business. This resulted in economic revival, industrial
control of inflation and high growth rate. His liberisation policy
as a global player and helped India to manifolds.
changed the way the
corporate India thinks and with it the lives of millions of
Indians. He changed the outlook of foreigners towards India. He has won
awards during his illustrious career viz., the Padma Vibhushan (1987),
Money Award, Finance Minister of the year (1993) and Asia Money Award
Finance Minister of the year for Asia (1994).
architect of India’s economic reforms has
nothing but admiration from all fellow Indians. He is hard working,
and a humane. He leads a simple life, and spends most of his time
has a photographic memory and prepares all his lectures and speeches
India is indeed fortunate to have Dr. Manmohan Singh as its Prime