To the Brink and Back: India’s 1991 Story by Jairam Ramesh Read Free Book Online Page B
Authors: Jairam Ramesh
Dhar (orPND, as he was often called) to take the lead, assemble the influential quartet, and, as a united force, support bold liberalization. Manmohan Singh had worked with PND in the 1970s when the latter was secretary to Indira Gandhi and Singh was chief economic adviser in the Ministry of Finance. 44
Apart from PND, the other three names suggested themselves.I.G. Patel had held senior positions in the Government of India and had, as we know, been governor of the RBI between 1977 and 1982 and later served as the director of the London School of Economics.M. Narasimham, a grandson ofS. Radhakrishnan, had a distinguished career in the RBI, the World Bank, theIMF, the ADB and the Ministry of Finance.R.N. Malhotra was an IAS officer who had specialized in economic management and had been at the helm of affairs in the RBI between 1985 and 1990. The four were very close professionally and personally, not only amongst themselves but also with the finance minister. The prime minister knew of M. Narasimham and had great respect for IG, having considered him briefly for the post of finance minister.
I had some idea that a joint statement from these four gentlemen was in the works. The noted journalist and former MP,R.K. Mishra, then chairman of theObserver Research Foundation (ORF), had told me about it and I had then alerted the prime minister. ORF had, in fact, organized the release of the joint statement on 1 July at the Parliament House Annexe with both the finance and commerce ministers present, along with P.N. Dhar. Another such function took place on 5 July. When the statement finally came out, it received wide media coverage because of the impeccable credentials and reputation of the signatories. I called up the two I knew well—PND andNarasimham—and conveyed to them the prime minister’s deep appreciation for their statement. Besides, I knew thatPND was close to senior Congress leaders and felt that the statement would be read by these leaders with great interest and seriousness (Annexure 5).
After a couple of days the statement was forgotten, but suddenly it hit the headlines again. In our enthusiasm to give the statement the widest possible circulation, I think I suggested to the finance minister that perhaps we could send it to all MPs. The finance minister liked the idea and so did the prime minister. But instead of sending the statement to the MPs under a separate cover, we allowed ourselves to have it sent to the MPs along with the usual papers that get distributed to them by the Lok Sabha and Rajya Sabha Secretariat.
On 11 July 1991, as soon as its session commenced, all hell broke loose in the Rajya Sabha as the following extract from the proceedings will reveal:
Shri Dipen Ghosh (West Bengal; CPM): Sir, I have addressed a letter to you. Two days ago among the parliamentary papers package there was one statement purported to have been signed by Mr.I.G. Patel, Mr. Narasimham,Mr. Malhotra and [one] other economist. (
Interruptions
)
Mr. Chairman: I have received your letter. (
Interruptions
)
Shri Dipen Ghosh: Why [is] this statement being circulated among other papers? They are neither ministers nor Members of Parliament. How can this paper be circulated? (
Interruptions
)
ShriA.G. Kulkarni (Maharashtra; INC [Indian National Congress]): This is not proper. Comrade Bhupesh Gupta used to say, “Why don’t you go to Russia and China and see what is happening?” (
Interruptions
)
Mr. Chairman: He says something else. Please sit down.
Shri A.G. Kulkarni: No. How do you allow him?
Mr. Chairman: I allowed him. Now you please sit down. (
Interruptions
) I will explain to you. (
Interruptions
)
Shri Dipen Ghosh: How could it find its way into the parliamentary papers? This is unauthorised use of the Parliamentary Secretariat surreptitiously for sending the papers to the Members of Parliament. (
Interruptions
) I [take] exception to this unauthorised use of Parliamentary Secretariat Office for circulating a
Apart from PND, the other three names suggested themselves.I.G. Patel had held senior positions in the Government of India and had, as we know, been governor of the RBI between 1977 and 1982 and later served as the director of the London School of Economics.M. Narasimham, a grandson ofS. Radhakrishnan, had a distinguished career in the RBI, the World Bank, theIMF, the ADB and the Ministry of Finance.R.N. Malhotra was an IAS officer who had specialized in economic management and had been at the helm of affairs in the RBI between 1985 and 1990. The four were very close professionally and personally, not only amongst themselves but also with the finance minister. The prime minister knew of M. Narasimham and had great respect for IG, having considered him briefly for the post of finance minister.
I had some idea that a joint statement from these four gentlemen was in the works. The noted journalist and former MP,R.K. Mishra, then chairman of theObserver Research Foundation (ORF), had told me about it and I had then alerted the prime minister. ORF had, in fact, organized the release of the joint statement on 1 July at the Parliament House Annexe with both the finance and commerce ministers present, along with P.N. Dhar. Another such function took place on 5 July. When the statement finally came out, it received wide media coverage because of the impeccable credentials and reputation of the signatories. I called up the two I knew well—PND andNarasimham—and conveyed to them the prime minister’s deep appreciation for their statement. Besides, I knew thatPND was close to senior Congress leaders and felt that the statement would be read by these leaders with great interest and seriousness (Annexure 5).
After a couple of days the statement was forgotten, but suddenly it hit the headlines again. In our enthusiasm to give the statement the widest possible circulation, I think I suggested to the finance minister that perhaps we could send it to all MPs. The finance minister liked the idea and so did the prime minister. But instead of sending the statement to the MPs under a separate cover, we allowed ourselves to have it sent to the MPs along with the usual papers that get distributed to them by the Lok Sabha and Rajya Sabha Secretariat.
On 11 July 1991, as soon as its session commenced, all hell broke loose in the Rajya Sabha as the following extract from the proceedings will reveal:
Shri Dipen Ghosh (West Bengal; CPM): Sir, I have addressed a letter to you. Two days ago among the parliamentary papers package there was one statement purported to have been signed by Mr.I.G. Patel, Mr. Narasimham,Mr. Malhotra and [one] other economist. (
Interruptions
)
Mr. Chairman: I have received your letter. (
Interruptions
)
Shri Dipen Ghosh: Why [is] this statement being circulated among other papers? They are neither ministers nor Members of Parliament. How can this paper be circulated? (
Interruptions
)
ShriA.G. Kulkarni (Maharashtra; INC [Indian National Congress]): This is not proper. Comrade Bhupesh Gupta used to say, “Why don’t you go to Russia and China and see what is happening?” (
Interruptions
)
Mr. Chairman: He says something else. Please sit down.
Shri A.G. Kulkarni: No. How do you allow him?
Mr. Chairman: I allowed him. Now you please sit down. (
Interruptions
) I will explain to you. (
Interruptions
)
Shri Dipen Ghosh: How could it find its way into the parliamentary papers? This is unauthorised use of the Parliamentary Secretariat surreptitiously for sending the papers to the Members of Parliament. (
Interruptions
) I [take] exception to this unauthorised use of Parliamentary Secretariat Office for circulating a
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