5 Reforms Introduced by Dr Manmohan Singh That Changed The Face of Indian Economics Forever

1. Liberalisation

With the Union budget of 1991, Dr Singh (during PV Narasimha Rao's prime ministerial tenure) introduced liberalisation in India, kickstarting a series of economic reforms. The move helped service sectors expand rapidly, also allowing consumers a wide range of choices.

2. Indo-US Nuclear Deal

With the 2005 India-US nuclear deal, India was recognised as a powerful nation with nuclear weapons for the first time. The deal, signed by Dr Singh (the then prime minister) and US President George W Bush, agreed that India will continue to develop its nuclear facilities and focus on civilian nuclear energy to sustain the economy.

3. NREGA (MGNREGA)

Another ground-breaking act introduced by Dr Singh was National Rural Employment Guarantee (now known as Mahatma Gandhi National Rural Employment Guarantee Act or MGNREGA). This act enforces that every Indian has a 'right to work'. It aimed to provide at least 100 days of paid employment in a financial year to every household with adult members involved in unskilled manual work.

4. Right to Education

A landmark act introduced by Dr Singh, Right of Education ensures that every child, between the age group of 6 and 14, has access to free and compulsory education.

5. Annual GDP growth rate of 8% over a period of 8 years

India enjoyed a sustained annual GDP growth rate of 8 per cent over a period of eight years, a feat achieved only during the tenure of Prime Minister Manmohan Singh.