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I didn't react on the day former Prime Minister Manmohan Singh (rather Gupchup Sing) passed away on December 26, 2024.
Anyone who dies deserves condolences at least for a day. For instance, when a habitual drunkard dies, his wife and children offer condolences on the day of death, and they actually feel relieved from the next day. Singh, too, deserves some condolences, no more than that.
I have researched his achievements, etc. He was born in 1932 and earned his doctorate in Economics from Oxford. He worked at the United Nations for about three years until 1969 and then began his bureaucratic career through lateral entry. Over the next twenty years, he held several key posts, including Chief Economic Advisor from 1972 to 1976, Governor of the Reserve Bank of India from 1982 to 1985, and head of the Planning Commission from 1985 to 1987. Afterwards from 1987 to 1990, Manmohan Singh served as the Secretary-General of the South Commission, a think tank based in Geneva, Switzerland. Starting from November 1990 his role was Economic Advisor to the Prime Minister, Chandra Shekar. Manmohan Singh held this position during the tenure of Prime Minister Chandra Shekhar. From March 1991 he held position as Chairman of University Grants Commision. In June 1991, he became Finance Minister. Look at his rise. From lateral entry to bureaucratic career, he ended up becoming FM in 1991 for 5 years and PM for 10 years from year 2004 to May 2014. Can I say... Silent Killer of Bharat's economy by showing his slavery to Gandhi family?
The debate surrounding Manmohan Singh's actions regarding the IMF loan during his tenure revolves around the secrecy and lack of transparency in obtaining the loan. Critics argue that Singh, as the then- economic advisor, did not inform the Parliament or the Prime Minister, Chandra Shekhar, about the loan negotiations with the IMF. This lack of transparency and accountability has been a subject of controversy, with some questioning Singh's motives and the terms of the loan.
And what did Bharat achieve? The country faced a crisis in 1991. Why, because Manmohan Singh followed Nehruvian socialism adopted by the Congress Government, especially under the leadership of Indira Gandhi. But, PV Narasimha Rao appointed Singh as Finance Minister. Bharat opened up to economic liberalism. Bharat was forced to adopt a capitalistic structure as demanded by the IMF, otherwise, Bharat wouldn't have received IMF relief. It's worth noting that all the steps taken towards economic liberalization were in line with IMF requirements, not Singh's personal initiatives.
The following chart tells about the rate of inflation in Bharat from 1990 to 2023. It may be noted that the inflation rate in Bharat had reached an all-time high of 28.60% in 1974 when Singh was the Chief Economic Advisor.
1990: 8.97% 1991: 13.87%
1992: 11.79% 1993: 6.33%
1994: 10.25% 1995: 10.22%
1996: 8.98% 1997: 7.16%
1998: 13.23% 1999: 4.67%
2000: 4.01% 2001: 3.78%
2002: 4.30% 2003: 3.81%
2004: 3.77% 2005: 4.25%
2006: 5.80% 2007: 6.37%
2008: 8.35% 2009: 10.88%
2010: 11.99% 2011: 8.91%
2012: 9.48% 2013: 10.02%
2013: 10.02% 2014: 6.67%
2015: 4.91% 2016: 4.95%
2017: 3.33% 2018: 3.94%
2019: 3.73% 2020: 6.62%
2021: 5.13% 2022: 6.70% 2023: 5.65%
In the month of August 1991, the inflation rate was 17% and in 1992 it was 12%. Looking at the inflation rates until 1999 and again during Singh's second term as PM, it's clear that his decisions had a significant impact. All his decisions, in my opinion, were not good, whether during his bureaucratic period, or as Finance Minister, or as Prime Minister. His decisions led to a surge in inflation to double digits. He just followed to the whims and fancies of Gandhi family's authoritarian decisions.
On his appointment as Prime Minister, everyone knew that Singh was a namesake Prime Minister, and all decisions needed approval from Sonia Gandhi. A man of integrity would never agree to such arrangements. Singh was aware of various scams during his second term but remained silent, knowing that Bharat's economy was deteriorating. Moreover, he admitted that due to coalition pressure, he was forced to remain silent without taking action. The lure of power (कुर्सी की लालच) was too great.
Considering the circumstances, according to me he deserves condolences for a day on the day of his demise, ಸಂತಾಪ. That's all.
I disagree with those who consider him a good economist, a good PM and Bharat shined well during his ministership as FM. I haven't discussed his and his family's personal gains while in office from 1970 to 2013.
I've expressed my thoughts, and I don't wish to argue about them. It's up to the reader to accept or reject my views.
Kindly listen also to the 19 minute video of Aapka Akbar by Pradeep Singh whose political analysis, I watch every day without fail.
भारतीय अर्थव्यवस्था का खलनायक जिसे हम आजतक नायक समझते हैं June 11, 2023 meaning 'We are projecting the villain of Bharat's economy as hero' link-is https://www.youtube.com/watch?v=c4BRekG-J6k. This video is a must watch.
Also if time permits, kindly listen to Adi Anchit video clip of December 30, 2024 ( DEF - talks by Aadi) YouTuber 91 minutes clip on YouTube link - https://www.youtube.com/watch?v=3SzVH8Yv6lU. Following a clip from this 91 minute video.
