Former prime minister Dr Manmohan Singh has died at the age of 92. The All India Institute of Medical Sciences (AIIMS) in Delhi confirmed that Dr Singh passed away on Thursday following age-related complications. According to the hospital's statement, he had experienced a sudden loss of consciousness at home on 26 December 2024.
A distinguished economist by training, Dr Singh is widely remembered for its indelible mark in India's economy. Under Prime Minister P.V. Narasimha Rao's government in 1991, Dr Singh, as finance minister, orchestrated a series of transformative economic reforms that fundamentally reshaped India's financial landscape. Faced with a severe balance of payments crisis and foreign exchange reserves that had dwindled to just three weeks' worth of imports, he implemented bold measures that marked a decisive break from India's decades-old socialist economic model.
The reforms included the dismantling of the complex licensing system known as the "License Raj," a significant reduction in import tariffs, devaluation of the rupee, opening up of foreign investment, and privatisation of state-owned enterprises. Dr Singh's policy framework embraced market-oriented reforms while maintaining a focus on social welfare, a balance that would later become his hallmark approach to governance.
These measures proved to be historically significant, helping India avert an immediate economic crisis and setting the stage for unprecedented economic growth.
Dr Singh went on to serve as prime minister of India from 2004 to 2014, leading two consecutive coalition governments.
Prime minister Narendra Modi paid tribute to his predecessor on social media platform X, praising Dr Singh's rise "from humble origins" to become "a respected economist" who left "a strong imprint on our economic policy over the years."
Born in what is now Pakistan before partition, Dr Singh's journey took him from academia to the highest offices of government, including roles at the Reserve Bank of India and as Chief Economic Advisor. His soft-spoken demeanour and technocratic approach to governance marked a distinct style in Indian politics.
He is survived by his wife, Gursharan Kaur, and their three daughters.
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