NK Singh says India needs to maintain upgrade path for next two decades

NK Singh is the co-convenor of the High Level Expert Group on Reforms of Multilateral Development Banks (MDBs) constituted by the G20 and the Chairman of the New Delhi-based Institute of Economic Growth.
Chairman of the 15th Finance Commission and former Rajya Sabha MP NK Singh on Wednesday said India needs to maintain its current growth path for the next two decades as it hopes to achieve developed nation status. Singh was awarded 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 development trajectory as it hopes to achieve developed nation status by 2047. “This is Prime Minister Modi’s third term, 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 maintain such a development path. Indian The development story also shows that democracy and development are not harmful to each other. “Since ancient times, India has been a mine of precious ideas; “The beginning of Bharat Yuga is based on this deep belief, our quest, our concern, our sincerity, our restlessness to achieve what is set out for us,” Singh said.
Singh is the co-convenor of the High Level Expert Group on Reforms of Multilateral Development Banks (MDBs) constituted by the G20 and the Chairman of the New Delhi-based Institute of Economic Development.
On the award, Singh said, “It is a humbling moment for me considering the stature of many of my predecessors. LSE has been a center of academic excellence since its establishment in 1895. Its relationship with India has been a deep, curious and integral one. Previous Indian recipients of the award include Dr BR Ambedkar, former Tata Group chairman Ratan Tata, Nobel laureate Amartya Sen and former President of India KR Narayanan.
The Honorary Fellowship was awarded by LSE President and Vice-Chancellor Larry Kramer at a ceremony in central London on 3 July. Singh has been at the forefront of policy-making in India since his participation as Secretary in India’s economic reforms of 1991. Prime Minister Atal Bihari Vajpayee and as Secretary in various departments in the Finance Ministry.
Responding to the invitation to the ceremony, Finance Minister Nirmala Sitharaman said, “NK Singh’s deep expertise in fiscal policy, coupled with his unwavering commitment to fiscal prudence, transparency and cooperative federalism, epitomizes his enduring legacy…his decades of “During his 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 on the committee dealing with public accounts, foreign affairs and human resource development. In the diplomatic arena, he is known for his efforts to build closer ties between India and Japan… (and was) deeply involved in India’s G20 Presidency, serving as co-convenor of the Independent Expert Group for Multilateral Reforms Were employed as. Development Bank,” External Affairs Minister S Jaishankar said in response to the invitation to the ceremony.