He said that Congress has seen several young leaders as its chief like Maulana Azad and Jawahar Lal Nehru.
He, however, dismissed suggestions that the party would go for a quota in ticket distribution for those under 45 years to be in tune with India's changing democratic profile.
Singh said that there was no need for quota and the young would be automatically given preference in ticket distribution in the changed scenario with women also getting a better deal.
Hailing the elevation of Rahul in the party, Union Minister Sachin Pilot said it was a "historical" decision.
He said that Rahul is "competent to discharge the responsibilities of Prime Minister" but quickly added that it was early to make any presumption on it.
"This decision has given a positive message. It's good that he became vice president of the party after working for youths for so many years. We will carry forward the development agenda of the party," he said.
A close aide of Rahul, Union Minister C P Joshi said that Rahul Gandhi has travelled widely in the country and knows the problems the nation is facing.
"The country will progress further in his leadership," he said.
Commerce Minister Anand Sharma, a 10 Janpath loyalist, said that this has been a long-pending demand that it will strengthen the party.
"Young leadership has always been promoted by the party and this is an important step towards the preparation of 2014 general election," Sharma said.
Another Rahul team member Jitin Prasad said that Congress has always focused on youth leadership and this will strengthen the party.
As the ministers, especially the young turks, lauded Rahul, party workers particularly from the two youth wings shouted slogans in support of the leader.
Celebrations erupted outside the venue even before the formal announcement of Rahul's new role in the party with jubilant workers bursting crackers and raising slogans hailing the young leader.
