There was a clear imprint of prime minister Manmo­han Singh on final economic strategy

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approved by G20 leaders of industrialised and emerg­ing countries.

G20, that replaced G8 as premier decision making body, endorsed differential economic strategy propos­ed by Manmohan Singh setting at rest the squabble as to continue or withdraw gover­n­ments’ additional spending to consolidate fragile growth.

The 25-page summit declaration adopted at Toro­nto on Sunday has econ­omic prescription for diffe­rent countries outlined by prime minister Singh. Adva­n­ced countries with huge deficits will withdraw stim­ulus spending and pur­sue austerity. Others, inclu­ding US and develop­ing econ­omies, will contin­ue with the spending to support fragile growth.

His experience as an economist and long stint as teacher at Delhi School of Economics (DSE) seems to have come handy for G20 leaders, including US Presi­dent Barack Obama, in clin­ching a largely agreeable econ­o­­mic package for next three to five years.

After India–US bilateral summit, President Obama did not hold back praise for Manmohan Singh. In a brief interaction with newsmen, the US president remarked: “When the Indian prime min­i­ster spea­ks (on econo­mic policy), the world listens”.

This is not the first time President Obama lauded economic genius of Manmo­han Singh. At the Septem­ber 2009 G20 Pittsburgh summit held in the midst of heightened economic crisis, the US president regarded Singh for being the wisest at high table of world leaders and asked for prognosis.

It is not just President Obama that largely looked to prime minister Singh for advice on policy prescrip­tion. Same was the senti­ment publicly aired by Canadian prime minister Stephen Harper who chair­ed G20 summit at Toronto.

At the joint news conference, Stephen Harper said, “We at G20 do lean on prime min­ister Singh’s wisdom and experience for guidance.”

Singh also pushed deve­loped countries to agree to a three-year freeze on any additional trade barriers and work towards early Doha trade negotiations.