Born on June 25, 1931 at Allahabad, Shri V.P. Singh is the son of Raja Bahadur Ram Gopal Singh. He was educated at Allahabad and Poona Universities. He was married to Smt. Sita Kumari on June 25, 1955 and has two sons. A scholarly man, he was the proud founder of Gopal Vidyalaya, Intermediate College, Koraon, Allahabad. He was the President of the Students Union at Udai Pratap College, Varanasi in 1947-48 and was the Vice-President, Allahabad University Students Union. He actively participated in Bhoodan movement in 1957 and donated a well-established farm in village Pasna, District Allahabad.

He was the member of All India Congress Committee; Executive Body, Allahabad University, 1969-71 and Legislative Assembly, Uttar Pradesh 1969-71. He was the Whip, Congress Legislative Party, 1970-71; Member of Parliament (Lok Sabha), 1971-74; Union Deputy Minister of Commerce, October 1974-November 1976; Union State Minister of Commerce, November 1976-March 1977; Member of Parliament (Lok Sabha), January 3-July 26,1980. He was the Chief Minister of Uttar Pradesh, June 9, 1980- June 28, 1982; Member, Legislative Council, Uttar Pradesh, November 21, 1980-June 14,1981; Member Legislative Assembly, Uttar Pradesh, June 15, 1981-July 16, 1983. As a Union Minister of Commerce in January 29,1983, he also held additional charge of the Department of Supply in February 15,1983. He was the Member of Parliament (Rajya Sabha) in July 16, 1983; on September 1, 1984 he was elected President, Uttar Pradesh Congress Committee and on December 31, 1984 he became the Union Finance Minister.