Manmohan Singh was responsible for India’s strong economy today: Ramanath Rai

Congress leader B. Ramanath Rai on Saturday said that former Prime Minister Manmohan Singh was responsible for India being recognised as one of the strongest economies in the world today.

Congress leader B. Ramanath Rai on Saturday said that former Prime Minister Manmohan Singh was responsible for India being recognised as one of the strongest economies in the world today.

Speaking at a meeting to condole the death of the late Singh at the District Congress office, Mr. Rai said his leadership was a model to the world. “Giving importance to work rather than talk, Mr. Singh did not respond to critics and focused on people-oriented programmes. He was responsible for elevating the standard of living of the poor in the country by introducing several revolutionary schemes and legislation,” the former Karnataka Minister said.

The Right to Education Act, the Food Security Act, the Jawaharlal Nehru National Urban Renewal Mission, the Right to Information Act, the Special Economic Zones Act, the Mahatma Gandhi National Rural Employment Guarantee scheme, foreign direct investment, reduction of bank rates of interest on loans, and similar other measures have improved the standard of living of the common man in the country, Mr. Rai said. It was because of his vision, banks in India did not go bankrupt during the global recession.

District Congress Committee President K. Harish Kumar said the measures taken and the policies implemented by Manmohan Singh during his two terms as Prime Minister heralded a new era of development in the country. He took over as the Finance Minister when the economy was in gloom after the two coalition governments ruled India between 1989 and 1991. Introducing fiscal reforms, liberalisation and privatisation, he opened up Indian economy to the world. Waiving off farm loans was one of his biggest achievements. He was also responsible for introducing value added tax in 2005 replacing the complex sales tax regime.

Former Minister K. Abhayachandra Jain, former MLA J.R. Lobo, leaders Padmaraj R. Poojary, MUDA Chairman Sadashiva Ullal and others were present.