Retirement from Rajya Sabha: With this end of an era, let's look at some of the best work by Dr Manmohan Singh

Who is Dr Manmohan Singh?

Dr Manmohan Singh is an Indian economist and politician who was the prime minister of India from 2004–2014 and also served as the finance minister from 1991–1996. He is credited with shaping Indias economic and social welfare reforms. From liberating India with a historic budget in 1991 to lifting millions out of poverty in his 10 years of rule, Lets take a look at some of his major contributions!

Economic crisis (1991)

To tackle the economic crisis in 1991, some of the most important reform decisions were taken by Dr Manmohan Singh and Narsimha Rao, including some structural reforms like trade policy and new industrial policy reforms to boost exports and changes in licensing.

Economic Liberalization (1991)

As the Finance Minister in 1991, Dr Manmohan Singh played a pivotal role in liberalizing Indias economy. The reforms included eradicating the License Raj system and opening up key sectors to foreign investment by reducing the trade barriers on international trade, kick-starting Indias economic growth, liberalization, and globalization, making India one of the top contenders in international trade competition.

Special Economic Zones (SEZ) Act 2005

Dr Manmohan Singhs decision to pass the Special Economic Zones Rules into force in 2006 proved to be a great step towards the nations economic growth, with the goal of attracting investments in India through foreign exchange.

The Indo-US Civil Nuclear Agreement (2005)

One of the most notable foreign policy decisions by Dr Manmohan was the signing of the Indo-US Nuclear Deal. The deal provides for the transfer of nuclear material, trade, and related technologies between the US and India. The agreement was signed on July 18th, 2005.

The Right to Information Act (RTI) (2005)

The landmark enactment of the Right to Information Act, under Dr Manmohan Singh, represented a substantial piece of legislation. It grants Indian citizens the authority to request information from government agencies and institutions, protecting democracy and making it accountable, credible, and as transparent as possible.

National Rural Employment Guarantee Scheme (NREGA) Act 2005

Another prominent and very important act under Dr Manmohan Singhs office was the National Rural Employment Guarantee Act (NREGA) in 2005, a social security scheme that aims at providing livelihood, sustenance, and employment to rural communities and labourers in India.

Helping the GDP grow

Under Dr Manmohan Singh, Indias economy has achieved a very high GDP growth rate of 9% with an 8–9% economic growth rate.

Farmer's land crisis

The Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation, and Resettlement Act, 2013, was a very important decision made in the office of Dr Manmohan Singh. It sought equity for farmers, who were deprived of livelihoods on the basis of land acquisitions.