NK Singh is the Co-Convenor of the High Level Expert Group for the reforms of Multilateral Development Banks (MDBs) formed by the G20 and the President of the New Delhi-based Institute of Economic Growth.
India needs to sustain its current growth trajectory for the next two decades as it hopes to achieve developed nation status, NK Singh, Chairperson of the 15th Finance Commission and former Member of Parliament in the Rajya Sabha, said Wednesday. Singh was conferred an Honorary Fellowship by the London School of Economics and Political Science (LSE) at a ceremony in London.
In his acceptance speech titled “The India Era”, Singh highlighted the country’s growth trajectory as it hopes to achieve developed nation status by 2047. “This is the third term of Prime Minister Modi, he and all members of the Council of Ministers are deeply committed to a developed India by 2047 … for the next two decades, India needs to sustain this kind of growth trajectory. The Indian growth story also demonstrates that democracy and development are not inimical to each other,” he said. “From time immemorial, India has been a mine of precious ideas; ushering in the India age is predicated in this deep belief, in our quest, in our anxiety, in our earnestness, in our restlessness to achieve what is ordained for us,” Singh said.
Singh is the Co-Convenor of the High Level Expert Group for the reforms of Multilateral Development Banks (MDBs) formed by the G20 and the President of the New Delhi-based Institute of Economic Growth.
On the award, Singh said, “It is a humbling moment for me considering the stature of many of my predecessors. The LSE has been a centre of academic excellence since its inception in 1895. Its connection with India has been an intensive, inquisitive and integral relationship.” Previous Indian recipients of the award include Dr BR Ambedkar, former Chairperson of Tata Group Ratan Tata, Nobel laureate Amartya Sen, and former President of India KR Narayanan.
The Honorary Fellowship was awarded at a ceremony in central London by LSE President and Vice-Chancellor Larry Kramer on July 3. Singh has been at the forefront of policy-making in India, from his involvement in India’s economic reforms of 1991, as Secretary to Prime Minister Atal Bihari Vajpayee, and as Secretary in various departments in the Ministry of Finance. In response to an invitation to the ceremony, Finance Minister Nirmala Sitharaman said, “NK Singh’s profound expertise in fiscal policy, coupled with his unwavering commitment to fiscal prudence, transparency, and cooperative federalism, epitomises his enduring legacy … Throughout his decades of public service, (he) has exemplified leadership in key positions, including the Chairmanship of the 15th Finance Commission and the Fiscal Responsibility and Budget Management Review Committee.”
“As a Member of Parliament, he (NK Singh) made notable contributions including the Committee’s dealing with public accounts, foreign affairs and human resource development. In the diplomatic domain, he is well-known for his efforts at forging a closer relationship between India and Japan… (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,” Minister of External Affairs S Jaishankar said in response to an invitation to the ceremony.