Former PM Manmohan Singh Posthumously Conferred with P.V. Narasimha Rao Memorial Award for Economics

On September 10, 2025, Former Prime Minister (PM) and Renowned Economist, Dr. Manmohan Singh, has been posthumously conferred the PV Narasimha Rao Memorial Award for Economics for his contributions to economic transformation and nation-building of India.

• The award was received by his wife, Gursharan Kaur, on his behalf, at a ceremony held in New Delhi, Delhi.

Conferror: The award was presented by Montek Singh Ahluwalia, former Deputy Chairman of Planning Commission and senior fellow at the Centre for Social and Economic Progress.

About Dr. Manmohan Singh:

Early Career: He held several positions such as Chief Economic Adviser from 1972 to 1976, Secretary of Ministry of Finance (MoF) from 1976 to 1980, 15th Governor of Reserve Bank of India (RBI) from 1982 to 1985.

• From 1985 to 1987, he served as the Deputy Chairman, Planning Commission, and Economic Adviser to PM from 1990 to 1991.

Economic Reforms:

As Finance Minister: From 1991 to 1996, during the PV Narasimha Rao government he introduced 1991 Economic Reforms such as Liberalization, Privatization, and Globalization.

• The National Stock Exchange (NSE), launched in 1992, became a crucial part of the broader financial market reforms, with an aim to improve market infrastructure and increase foreign investment.

As Prime Minister: He became the 13th PM of India in 2004 and served for two consecutive terms till 2014, becoming the second-longest serving PM after Jawaharlal Nehru at that time.

• During his tenure as PM, initiatives such as Mahatma Gandhi National Rural Employment Guarantee Act (MNREGA) 2005, which provided 100 days of guaranteed wage employment to rural households; Right to Information (RTI) Act 2005 to enhance transparency and accountability.
• It also includes Right to Education (RTE) Act, 2009, which made free & compulsory education a fundamental right for children from 6 to 14 years; Food Security Act, 2013, to ensure subsidized food grains.

P.V. Narasimha Rao Memorial Award:

Commemoration: The P.V. Narasimha Rao Memorial Award is an honour instituted to commemorate former PM Pamulaparti Venkata (P.V.) Narasimha Rao, whose tenure was from 1991 to 1996.

• He is remembered as the “Father of Indian Economic Reforms”.

Recognition: The award recognizes individuals who have made outstanding contributions in the fields of economics, public policy, governance, and national development.

• The award is conferred by institutions and foundations such as the P.V. Narasimha Rao Memorial Foundation (PVNMF).
• The previous winners of the award includes Ratan Tata, former chairperson of Tata Group, recognized for his outstanding philanthropic contributions, Dalai Lama for his life long dedication to peace, compassion, understanding.

About P.V. Narasimha Rao Memorial Foundation (PVNMF):
President – K Ramachandra
Headquarters – Hyderabad, Telangana