Dr. Satish Bagal
Dr. Manmohan Singh was truly a great son of India! If India is the fastest growing economy and likely to emerge as a great power, then he must be given credit for creating the economic architecture of a liberalized regime that has been facing global headwinds for over three decades. During the last thirty years, average growth rate of the Indian Economy has been more than 6.5% and it must be said to his credit that he has created through this architecture a potential to achieve still higher growth rates.
During his tenure as the Prime Minister, he took several initiatives that are regarded as foundation of a welfare state and progressive democracy! We can think of MNRGA, Right to Information Act, Education Act, Food Security Act and several other initiatives that were designed to empower the common man! He created a successful model that needs proper appreciation. On one hand this model attempts to achieve a high economic growth and on the other hand it tries to strengthen a welfare state that cares for the most vulnerable sections of our society. During his tenure he created a number of programs targeted to the poor and the vulnerable. Dr. Manmohan Singh put this model to good use and the successive governments have been using this template for balanced economic growth.
During his tenure of ten years the whole financial and banking sector witnessed a great change and came on a digital platform! By 2013 we not only started net banking but even started filing our income tax returns online! If today we take pride in digital payment systems, its infrastructure was all laid down during Dr. Manmohan Singh’s tenure. Creation of National Payment Corporation of India, high density of mobile telephony, Aadhar Cards—– all were his initiatives. Through this infrastructure came the digital payment systems which have revolutionized Indian Financial System. During his period of ten years, India took out 27 crores of people out of dire poverty and gave them livelihood and dignity, a feat that has been hailed by the World Bank as a great template! Many people forget that the system of direct benefit payments (direct payments in the bank accounts of beneficiaries) was started in 2013 initially in 130 districts in India! This was a successful pilot project that was completed by the subsequent government! This system has now enabled us to reach out to the most vulnerable sections of population and achieve a degree of financial inclusion.
It is generally appreciated that Dr. Manmohan Singh secured developmental space for India. But he also positioned India and Indian economy strategically in the global order and in geopolitics. Under his stewardship India sensed and smelled the greatness of a global power. The world started looking to India as an alternative to China. After our nuclear tests of 1998, the western powers put India under severe sanctions and India was denied all the cutting edge and strategic technologies, including advanced space technology! Manmohan Singh’s career’s highest point came when he concluded the Nuclear Deal with the US! He skillfully maneuvered the process and made George Bush pass a special Act in the US Congress and Senate granting waiver to India form signing the NPT! The Nuclear Deal brought India on a global stage. From 2007 onwards, the world stated looking to India as an alternative to China, and this was possible because of Manmohan Singh’s futuristic vision! In 2010, he became world leader of great esteem and it was said of him that when Manmohan Singh speaks the world listens! Dr. Manmohan Singh enjoyed close personal relationship with two American Presidents, George Bush and Barrack Obama. Both had great respect for Dr. Singh and have written about Dr. Singh in glowing terms.
And lastly and most importantly he brought great dignity, grace, humility and humaneness to the political power he wielded! He remained sober and unruffled in the face of severe criticism, though he also tried to learn through criticism. When he faced barrage of unnecessary criticism against him, his humble reply was that History would judge him kindly! He was sensitive and honest to a fault and lived a simple life.
I am tempted to mention a small story about Manmohan Singh that shows how honest and sensitive he was. Montek Singh Ahluwalia has narrated this story in his memoirs “Backstage”. In 1991 Dr. Singh presented his revolutionary budget that did away with the “License Permit Raj”. To boost exports he also took the decision to devalue Rupee by about 19%. Just before he became Finance Minister of India, he had worked in a senior international position in South Commission at Geneva. As a result of this assignment, he received some salaries and payments from that International Agency. As he received his salaries after devaluation, he stood to gain 19% more in rupee value. Sensing that it would amount to an unintended benefit from his own decision, he immediately paid that 19% difference into the Prime Minister’s Relief fund. That was Manmohan Singh, honest and transparent to a fault.
If today we can look into the future with great confidence, it is mainly because of a number of initiatives he started during his tenure! His was a leadership that always looked to future! Today when we look back to all his initiatives and programs, we earnestly feel that our future rests safely and solidly on the building blocks he created during his tenure!
I personally consider myself fortunate that during these heady times of great development and activities, I was with the government and could participate in many projects and activities!
Dr. Satish Bagal
(Dr. Satish Bagal is a retired Civil Servant and has taught Management at various Business Schools in Mumbai. He has worked in several senior positions such as Director of Treasuries with the Government of Maharashtra and Registrar, University of Mumbai. He also worked as CFO and Additional Commissioner with MMRDA, Mumbai.)
