Dec 27, 2024 07:29 PM IST
FICO honored former PM Manmohan Singh with a moment of silence, lauding his contributions to India’s economy and pivotal roles in finance and RBI.
The Federation of Industrial and Commercial Organisation (FICO) paid tribute to former prime minister Manmohan Singh with a moment of silence.
FICO members expressed respect for Singh’s monumental contributions to India’s economy. They highlighted his pivotal role as the governor of the Reserve Bank of India (RBI) and finance minister, particularly for his landmark 1991 budget that liberalised India’s economy, propelling the nation’s growth as a global economic power. His effective handling of the global financial crisis also garnered international praise.
Gurmeet Singh Kular, FICO President, recalled a personal memory from the early 1990s, when Singh, as finance minister, swiftly resolved an issue concerning the imposition of excise duty on bicycles.