Nearly 25 years after Manhoman Singh as Finance Minister initiated steps for pulling the country out of economic doldrums, the former Prime Minister may again find himself donning the thinking cap for rescuing Punjab out of financial crisis.
For, Manmohan Singh has agreed to assist a Special Committee, to be set up for the State’s economic revival, and suggest means and measures for the same.
Punjab Congress has all along been taking on the ruling SAD-BJP combine in Punjab for State’s poor fiscal position. Promising to resuscitate the same after forming Government in 2017, the Congress has sought renowned economist Manmohan Singh’s assistance.
“The former Prime Minister Dr Manmohan Singh has agreed to assist the Special Committee set up for suggesting means and measurers for economic revival of Punjab. I have requested Dr Singh to assist the committee and he willingly accepted it,” announced the Punjab Pradesh Congress Committee (PPCC) president Capt Amarinder Singh.
Maintaining that the state’s economy is completely derailed, Capt Amarinder said that bringing it back on track will be the top priority of the Congress after winning the 2017 polls.
Hailing from Pakistan Punjab, Manmohan Singh is well aware of the State’s requirements. After serving at various prestigious posts, including Chief Economic Adviser in Finance Ministry, Reserve Bank of India Governor, Planning Commission of India’s deputy chairman, Advisor to the Prime Minister on Economic Affairs, University Grants Commission’s chairman, Dr Manmohan Singh was inducted as Finance Minister in 1991 by the then Prime Minister PV Narsimha Rao.
That was the time when India had faced severe economic crisis. Over the next few years, despite strong opposition, he as a Finance Minister carried out several structural reforms that liberalised India’s economy, and proved successful in averting the crisis enhancing his reputation globally as a leading reform-minded economist.
Manmohan Singh was in Punjab. His suggestions would be part of party’s election manifesto.
“I will be meeting Dr Manmohan Singh in the coming days to discuss Punjab’s economy and chalk out ways and measures for improving the same,” Punjab’s former finance minister and Congress’ manifesto committee head Manpreet Singh Badal told The Pioneer.
Manpreet said that he may also meet Montek Singh Ahluwalia, India’s celebrated economist and former deputy chairman of the Planning Commission of India.
“Every section of the society will be taken care of while forming the party manifesto. We are taking advice and suggestions from every category of the society while preparing the manifesto, which will be released after October,” said Manpreet.