NK Singh: India Must Sustain Growth for Next 20 Years: In order to become a developed nation, India must maintain its current economic trajectory for the next 20 years, according to NK Singh, the chairperson of the 15th Finance Commission and a former Rajya Sabha member. At a ceremony held in London, Singh received an Honorary Fellowship from the London School of Economics and Political Science (LSE).
Singh outlined the nation’s development trajectory in his acceptance address, “The India Era,” emphasising its goal of being a developed nation by 2047. “Prime Minister Modi is in his third term. He and every member of the Council of Ministers are steadfastly dedicated to seeing a developed India by the year 2047. India needs to maintain this kind of growth trajectory for the next twenty years. He added, “The growth record of India also shows that democracy and development are not mutually exclusive. “India has always been a treasure trove of valuable ideas; the advent of the India era is based on this profound conviction, our pursuit, our concern, our sincerity, and our restlessness to fulfil our destiny,” Singh stated.
Singh is the President of the Institute of Economic Growth, located in New Delhi, as well as the Co-Convenor of the G20-formed High Level Expert Group for the Reforms of Multilateral Development Banks (MDBs).
“It is a humbling moment for me considering the stature of many of my predecessors,” Singh remarked in response to receiving the award. Since its founding in 1895, the LSE has been a hub for academic brilliance. It has maintained a close, curious, and essential relationship with India. Previous Indian recipients of the prize include Nobel laureate Amartya Sen, former President of India KR Narayanan, Dr. BR Ambedkar, and former Tata Group Chairman Ratan Tata.
On July 3, LSE President and Vice-Chancellor Larry Kramer presented the Honorary Fellowship during a ceremony in central London. From his participation in the 1991 economic reforms in India to his role as Prime Minister Atal Bihari Vajpayee’s secretary and his secretaryship in many Ministry of Finance departments, Singh has been at the forefront of the country’s policy-making process. “NK Singh’s profound expertise in fiscal policy, coupled with his unwavering commitment to fiscal prudence, transparency, and cooperative federalism, epitomises his enduring legacy,” Finance Minister Nirmala Sitharaman said in response to an invitation to the occasion. In his many years of public service, (he) has demonstrated leadership in a number of important roles, such as the Chairmanship of the Fiscal Responsibility and Budget Management Review Committee and the 15th Finance Commission.
“NK Singh made significant contributions to the Committee on Foreign Affairs, Public Accounts, and Human Resource Development during his tenure as a Member of Parliament. Within the realm of diplomacy, he is widely recognised for his endeavours to cultivate stronger ties between Japan and India. In response to an invitation to the event, Minister of External Affairs S Jaishankar stated, “(and was) deeply involved in India’s G20 Presidency, serving as the Co-Convenor of the Independent Expert Group for the Reforms of Multilateral Development Banks.”
