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| ashu | Posted
on 19-May-04 07:25 PM
One of the best pieces of news today is that Manmohan Singh, a policy-maker par excellence and an economist to boot, is now India's Prime Minister. It was Singh, who as Finance Minister in 1991 staring at a major macroeconomic serious crisis, decided that there was no choice but to push India to go down the path of economic reforms. And what a wise decision that was! Congratulations to Dr. Singh. It's time for Nepal to benefit al the more from what's happening in China and India -- two of the world's fastest growing economies that are on the cover of every respectable magazine these days. oohi ashu ktm,nepal **************** Here's an extract from an interview: The World Outside: The Influence of Asian Growth and Soviet Collapse on India INTERVIEWER: You've already compared Toyota and Hindustan Motors. In the '80s people started to look abroad. I think you yourself were struck by what was going in other parts of East Asia. Tell me what you were seeing and what you were thinking at that time, particularly with reference to South Korea. MANMOHAN SINGH: In the 1980s the Indian economy did reasonably well by world standards. Latin America and Africa were mired in their debt crisis. The Indian economy grew at 5.5 percent, but if you look at the last 30 years -- for example, 1960 to 1985 -- the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty. Their achievements in terms of economic growth, in terms of social development are far more impressive than most other countries of the world. What happened in East Asia, particularly in a country like South Korea, did influence me very considerably. INTERVIEWER: Just taking South Korea as an example, am I right in saying that in about 1960 their living standards [and] the output of South Korea and India were the same? MANMOHAN SINGH: Yes, I think India and South Korea are roughly the same per capita income in 1960, and in 40 years time Korea has become a member of the OECD [Organization for Economic Cooperation and Development], and we are where we are. INTERVIEWER: And what's the difference in terms of per capita income? MANMOHAN SINGH: The Indian per capita income would be about $450. The Korean per capita income, if I remember correctly, about $11,000, $12,000 per annum. INTERVIEWER: All within one generation? MANMOHAN SINGH: Yes. That's a remarkable achievement. INTERVIEWER: Did this lead to the beginning of a change of heart in India when people looked at the other Asian economies? MANMOHAN SINGH: Certainly the fact that many countries of East Asia, much less well endowed than India, have marched far ahead of India's race for social and economic development has influenced a very considerable amount of thinking, particularly among economists and social scientists in the last decades. INTERVIEWER: What impact did the collapse [and] failure of the Soviet economic model have on people intellectually in India? MANMOHAN SINGH: This was telling proof that a command-type of economy was not as secure as we had thought. We thought [we]... could look at [the Soviet Union] as a new civilization. And here was an economy and its society and politics which could not defend itself against all the internal contradictions. Therefore the collapse of the Soviet Union -- the end of the Cold War was also a major factor -- influenced thinking on economic reforms in our country, as it did other countries. INTERVIEWER: Did Mrs. Thatcher's attack on the mixed economy create waves over here? MANMOHAN SINGH: There are many people in India that admire Mrs. Thatcher. I've had the privilege of meeting her several times. I have great admiration for her, but I think she had a very limited influence on Indian thinking on economic reforms. http://www.pbs.org/wgbh/commandingheights/shared/minitextlo/int_manmohansingh.html#5 |
| DWI | Posted
on 19-May-04 08:38 PM
Manmohan's selection as the next Indiam PM shows how hollow India still is. Legal hurdles aside, everybody knows how the BJP supporting parties and public were protesting her taking the position. Manmohan is just too soft of a leader. Sonia did a prudent thing as she summed it up by saying that INC is about value and integrity not just about Power. The only problem is that this opinion is coming out of a citizen whose country has even worse beurocracy. |
| Shaiva | Posted
on 19-May-04 10:29 PM
A ‘bureaucrat prime’ minister! A man without a backbone is good to have around when The Lady wants to hear nothing but ‘Yes Madam’, ‘but of course, Madam’, ‘I am so sorry Ma’m’, ‘Please excuse me, Madam’, ‘Yes Madam, I was wrong’, ‘Your instructions, Ma’m?’, ‘Your wishes are my command, Madam’. This Maino girl is going to have loads of fun! A move so shrewd that it has BJP licking what it had spit earlier. |
| Biswo | Posted
on 20-May-04 01:06 AM
I am surprised to see DWI and shaiva already forming such an unfavorable opinion of Dr Singh. I am not a follower of Indian politics, so may be I know less. But I distinctly remember two occasions when I read about him in the past: one was when Oxford University Econ department had a special issue of some journal honoring Dr Singh, and another is when I was reading about which leaders drives what car in India, Dr Singh's car was the least illustratious one in the list I was reading, and the journal also mentioned him for his other simple lifestyle (I am such a fan of Gandhiji!). [As an aside: the reason why some of our leaders think they need to drive Pajero or why the king thinks he needs to drive Rolls Royce probably lies in their deficiency in other field: they are not smart enough to impress other intellectually, they are not popular enough to show off adoring fans, and they think they will be ashamed if a foreigner sees them driving a rickety cheap car although they are a leader/king of a country.] There are several ways by which one can evaluate a person's integrity: one of them is by polling his peers. And his peers give Dr Singh high marks for his integrity and intellectual ability. Hence, my assessment is he may defer to Mrs Gandhi, but he will not be a puppet. He is a good man,a righteous man and India is lucky to get a PM like him. It is also a testimonial of India's secular fabric that a Sikh PM is being sworn in by a Moslem president, and the leader of the most powerful party is Roman Catholic. |
| DWI | Posted
on 20-May-04 04:20 PM
Biswo, I have nothing against Manmohan. I just thought Sonia deserved to be a PM when majority of the Indian citizens mandated it to her by supporting her party. Manmohan, the Finance Minister of Narshinha Rao's period, is viewed as the big Economical Reformist of India. His timely changes in Indian Economy gave that boost to India the way China is experiencing the development right now. But there is a difference between a political Leader and a real Leader who can Lead. From what I've read, what I've heard from my Indian friends and what I remember of him from those days, Manmohan is a very "unassuming" personality in Indian Politics who is yet to be tainted by corruption scandal, he might be one of the purest there (please enlighten me if there was any scandal involved). The soft spoken political leader had a good vision on what he was assigned to do, economically strengthen India. But does he have a powerful, commanding leadership personality? That is a big question. You would rather have a slightly tainted leader who can lead his country to the new heights than a leader who is as pure as a saint but does nothing. It sure is a rare quality, but few of our leaders have demonstrated that in the past (eg BP, Manmohan Bhandari and even Pashupati Samsher). Manmohan's lack of commanding nature might make him a victim of voracious Indian MPs. Bad decision is guaranteed in such a condition that could even affect neighbouring countries like Nepal. What he will bring to this silver platter, it is yet to be seen. His resume sure doesn't look that good for the job he is now assigned. |
| Biswo | Posted
on 20-May-04 04:44 PM
DWI, There were several other 'untainted' prime ministers in India in the past. It is said about Lal Bahadur Shashtri that he used to buy candle with his own money in the night if he had to work on something unofficial. Indra Kumar Gujaral, another Punjabi guy, was also untainted and was probably the best PM for Nepal.(Whether we like it or not, Nepali government is always run by a coaltion of which India is one perrennial partner.) What those sidaasadaa PMs delivered can be a moot subject. But they were not as effective as other strongmen/women like Nehru, Indira, Rajeev, Bajpayee or even Rao. So, I don't insist that Manmohan will be a better PM than others. But I don't assume he will be just a puppeteer, and will do all biddings of Sonia. Manmohan is an acadamic, who , I believe, definitely knows the gravity of the post of PM of Republic of India. He knows that all failures will be his, the buck stops at his office, and he needed to enact only those decisions that he agrees on. I also urge you to look at the tenure of Ernesto Zedillo, the former Mexican president.He was widely considered to be a puppet of Gortari brothers. After becoming the president, he assumed all powers, and acted boldly against not only Gortaris who were very corrupt but his own PRI also. I believe Manmohan will be someone like Zedillo.Now, let's see. |
| darshankaka | Posted
on 20-May-04 07:37 PM
Sonia Gandhi was forced to say no to PM post by indian poeple one way or the other. That's the right decision she finally took. HOw would she feel if an indian man/woman goes to Italy and becomes PM there? That's exactly what went thorugh her mind, and she woke up!!! She is an idiot though. She's not supposed to meddle up in the politics.. let her son/daughter!! |
| karmapa | Posted
on 20-May-04 08:51 PM
While Manmohan Singh is credited with initiating economic reforms in India, he did that as a Finance Minister. As PM his role has only gotten super big, as big as India itself, with umpteen juggling acts to perform. Unlike in the past, economy will be only one dish among other dishes (not so delicious) to be seen how he deals with the deepening poverty affecting rural India and rising inequality, one area where he is still unproven, and to which he may have advertently or inadvertently contributed. Chief minister of Andhra - Chandra Babu Naidu - was undone by the kind of economic reforms (it was essentially neoliberalisation) that didn't work for the common man. He has rightly bitten the Andhra dust in the last elections. I'm sure the new PM has taken this lesson to heart. |
| karmapa | Posted
on 20-May-04 08:57 PM
While Manmohan Singh is credited with initiating economic reforms in India, he did that as a Finance Minister. As PM his role has only gotten super big, as big as India itself, with umpteen juggling acts to perform. Unlike in the past, economy will be only one dish among other dishes (not so delicious) on his place. It remains to be seen how he deals with the deepening poverty affecting rural India and rising inequality, one area where he is still unproven, and to which he may have advertently or inadvertently contributed. Chief minister of Andhra - Chandra Babu Naidu - was undone by the kind of economic reforms (essentially neoliberalisation) that didn't work for the common man. He has rightly bitten the Andhra dust in the last elections. A great fall for the darling of IMF, World Bank. I'm sure the new PM has taken this lesson to heart. |
| Lalupate*Joban | Posted
on 22-May-04 10:54 AM
http://www.outlookindia.com/full.asp?fodname=20040531&fname=Cover+Story+%28F%29&sid=7 |
| jivman | Posted
on 23-May-04 04:43 AM
Times of India blames Hindu Fanatics like BJP for Sonia's refusal to accept PM and also for her safety. It is sad since she did all the leg work during the election. She is a smart and capable leader, but a victim of another deply rooted culture in India. |