The passing of Dr. Manmohan Singh marked the end of a significant chapter in Indian political history, concluding his long and impactful career. Instead of a glorious end, the chapter concluded in utter disgrace and humiliation, a devastating letdown for the nation and the man. His origins were humble, in what is now Pakistan. Academic excellence and unwavering determination were the sole drivers of his rise to success. His impressive academic record shows his intelligence and potential.
His career has included numerous senior positions in our national economy since 1975. His long career led to his appointment as Finance Minister in 1991. The restrictive economic environment of socialist India in 1991 stifled entrepreneurial spirit, hindering both economic growth and individual advancement. Dr. Singh was part of the same system for almost fifteen years.
It's widely known that P.V. Narasimha Rao, then Prime Minister, didn't initially choose the person appointed as India's Finance Minister. After the event, some people even alleged that the IMF pressured the Prime Minister into his decision.
With its economy hanging by a thread, the nation faced a potential economic collapse and was in a perilous state. To get financial help, countries must adopt market-oriented reforms, the International Monetary Fund and other international lending agencies insist.
The situation facing the Congress Party revealed their dire political straits. Although the Congress party suffered a major loss in the 1989 elections, the assassination of Rajiv Gandhi during the campaign unexpectedly boosted their vote share through a surge of sympathy. Yet, a different political reality emerged with the Bharatiya Janata Party's growing dominance. Their participation in the Rama Janmabhumi movement significantly boosted their support and influence. The BJP's platform combines Hindu nationalist principles with free-market economics, a combination resonating with a significant portion of the electorate.
Despite Rajiv Gandhi's Congress party trying to appease both sides by reopening the gates to the Ramajanma Bhumi Mandir, it didn't significantly help their electoral performance in 1989 and 1991, and the issue largely faded from public consciousness.
The Congress Party moved away from its leftist ideology under Rajiv Gandhi, largely abandoning the socialist posturing reminiscent of his grandfather Nehru. Congress also found no need for Communist Parties. The circumstances allowed the Congress Party to adopt free-market economic policies, creating new opportunities.
In 1991, the Gandhi family, believing P.V. Narasimha Rao to be a loyal and controllable figure, brought him back into active politics and appointed him Prime Minister. He had a distinguished career, notably as Chief Minister of Andhra Pradesh and subsequently a senior Cabinet Minister serving under Indira Gandhi from 1980 to 1984 that continued under Rajiv Gandhi from 1984 to 1989, demonstrating his unwavering loyalty to the Congress party. P.V. Narasimha Rao, in his political career, was far from the conventional or typical political leader. His impressive scholarly work made him a renowned academic. He enjoyed great respect within the academic world. The academic world and beyond, widely acclaim his significant contributions to literature and linguistics.
Socialist ideology dominated India's political and economic landscape in 1991. The economy's poor state has already been emphasised. The IMF and other international financial institutions demanded major reforms in exchange for continued support. Against the backdrop of India's struggling economy, Prime Minister P.V. Narasimha Rao initiated a sweeping program of economic reforms. Mr. Singh began his political career against the backdrop of these difficult political and economic times. He had no prior experience in government, at either the political or ministerial level. In short, he was not known for supporting free markets or economic liberty. His appointment to the Finance Ministry came despite lacking political and ministerial experience.
The Congress government faced significant political headwinds while implementing the 1991 economic reforms. Lacking a parliamentary majority, the party struggled to enact its policies, leading to a series of fragile coalition governments. Maintaining his power required Mr. Rao to resort to political manoeuvering and even corruption. Besides facing outside pressure, he also battled considerable internal opposition from within his own party, many of those coveted the Prime Ministership after Mr. Rao. The Gandhis realised that his independent spirit clashed with their desire for control, so they changed their tactics. The family also plotted repeatedly to remove him from power. He resisted calls to hand over the party presidency to a member of the Gandhi family. Daily, Mr. Rao faced considerable and sustained political opposition from both his own party and the opposition throughout his time as Prime Minister. The BJP-led Ayodhya movement created a politically difficult situation, severely testing his leadership.
The considerable obstacles to economic reform were overcome due to Mr. Rao's powerful political support for Mr. Singh. The successful economic reforms were largely due to Mr. Rao's insightful leadership, strategic vision and skillful economic and political planning. Major legislative changes, not usually considered financial in nature, were enacted by the cabinet. The impetus behind banking sector reforms has been a political convenience, not inherent need, and committees were appointed to explain the reforms. To preempt opposition from the left, the reforms were presented as beneficial to the middle class. Mr. Rao's government refuted claims that reforms hurt the poor, despite attempts by some within the Congress party to suggest otherwise. He also tried to increase political backing among middle- and upper-class citizens. Rao's political groundwork made later economic reforms easier for subsequent governments. Because the media overlooked his efforts, most people didn't know about them. Besides his failure to connect with a broad base of voters resulted in his defeat. After the general election defeat, he was stripped of all his power by a joint effort of Congress party members and the Gandhi family. The Gandhi family so vehemently hated him that they refused to allow his cremation in Delhi, even preventing his body from entering the AICC office.
While Mr. Rao's political career ended, Mr. Singh's continued to thrive. The Gandhi family's media outlets gave Mr. Singh all the credit for the economic reforms, ignoring Mr. Rao's contributions. Though undeserving, Mr. Singh gratefully accepted the credit.
The myth of Mr. Singh as the finance minister who initiated economic reforms was thus born. Indian history may never have seen a Prime Minister whose achievements went unacknowledged. The minister claimed all the credit for the policy, despite its collaborative development. Mr. Singh readily claimed the credit. He never publicly acknowledged Mr. Rao's guidance of the reforms, nor did he protest the disgraceful treatment of Mr. Rao after his death.
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