A Former Economist-PM who got less than what he deserved
Kanwaljit Singh Bakshi
During my recent visit to India, I had the honour of meeting with former Prime Minister Dr Manmohan Singh.
A former officer of the Indian Civil Service and Reserve Bank of India Governor, he rose to become the Finance Minister and Prime Minister of the world’s largest democracy.
Credited with knowledge of public finance and vision, he dedicated his political life to transforming India as an economic powerhouse.
I first met Dr Singh when I visited India as a part of the official delegation of the then Prime Minister Sir John Key in June 2011.
Growing Relationship
Dr Singh recalled his discussions with Sir John on the growing and positive relationship between New Zealand and India. He praised New Zealand as a model for ease of doing business, dairy and agricultural production and cold storage solutions.
He said that New Zealand was the first country to grant women the right to vote (on September 19, 1893).
“For a small nation, located at the edge of the globe, away from traditional centres of trade and commerce, New Zealand punches above its weight,” he said.
International Relations
As the Leader who was singularly responsible for India’s liberalisation and market reforms, Dr Singh continues to be a staunch supporter of free trade.
“Inward-looking trade policy is a waste of opportunity,” he said.
It was a privilege to sit in the company of a man who was responsible for changing the lives of his countrymen.
I finished my meeting with Dr Singh by extending a warm invitation on behalf of New Zealand and New Zealanders to visit our beautiful country.
Kanwaljit Singh Bakshi has been Member of Parliament on National List since November 2008. The above Report is an Indian Newslink exclusive followed by a tribute to a good Prime Minister at bad times.
Manmohan Singh, an Economist beaten in Politics
Venkat Raman
Some men should not be forced to become Prime Ministers. They are people of high erudition and independent economic thought and hence are best consulted as experts in running the economy, not the polity.
Dr Manmohan Singh was one such. I have had three occasions to interview him between 1991 and 1997, at each of which he proved to be a man of high calibre. A three-day election tour with former Prime Minister P Narasimha Rao for the newspaper in which I was employed in the State of Bahrain, brought me closer to both men.
If Mr Rao was a strategist, Dr Singh was the thinker and implementor.
Impressive Credentials
Why Dr Singh did not fit into the moulds of Prime Minister is evident from his days of lore. He was the only Prime Minister of high learning that India was fortunate to have at any time in its history.
After completing his DPhil, he returned to India until 1966 and went to work for the United Nations Conference on Trade and Development (UNCTAD) from 1966–1969. Later, he was appointed as an Advisor to the Ministry of Foreign Trade by Lalit Narayan Mishra, in recognition of his talent as an Economist.
From 1969 to 1971, Dr Singh was a Professor of International Trade at the Delhi School of Economics, University of Delhi.
In 1972, Singh was Chief Economic Adviser in the Finance Ministry and in 1976 became its Secretary. Between 1980–1982, he was at the Planning Commission and in 1982, he was appointed Governor of the Reserve Bank of India by the then Finance Minister Pranab Mukherjee.
He held the post until 1985 and then became the Deputy Chairman, Planning Commission until 1987. He later became Secretary General of the South Commission, an independent economic policy think tank headquartered in Geneva, Switzerland from 1987 to November 1990.
He returned to India in November 1990 and held the post as the Advisor to Prime Minister of India on Economic Affairs during the tenure of V P Singh. In March 1991, he became Chairman of the University Grants Commission.
In 1991, India’s fiscal deficit was close to 8.5% of its Gross Domestic Product and the balance of payments deficit was huge. India’s foreign reserves barely amounted to US$1 billion, enough to pay for two weeks of imports, in comparison to US$ 283 billion today.
Dr Singh became an influential architect of India’s socialist economy, eliminated the Permit Raj, reduced state control of the economy, and reduced import taxes.
The rest is history.
Photo :
Kanwaljit Singh Bakshi with Dr Manmohan Singh
(Picture Supplied)
