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Thank PV for liberalization, not MMS
by Tathagata Mukherjee on Jun 20, 2008 08:35 AM   Permalink | Hide replies


Credit for liberalization goes to PV Narshima Rao, because as a PM he gave political cover to MMS, his FM.

Now, even though MMS is PM of India, he could not do any liberalization, as Sonia is NOT giving him political cover.

So, THANKS PV NARSHMA RAO FOR LIBERALIZATION, NOT MM SINGH.

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  RE:Thank PV for liberalization, not MMS
by Tathagata Mukherjee on Jun 20, 2008 08:39 AM   Permalink

Also, MMS did NOT do something out of ordinary. The liberalization he chose already worked in Europe, China and elsewhere.

EVEN MMS was NOT the first choice as FM by PV Narshima Rao.

When celebrated economist IG Patel declined to become FM of India, MMS was approached.

Neither MMS did leave any original mark in the field of economy. There are tons of Indian economists who are known for their contribution like Meghnad Desai, Bhgwati, Sen, Kaushik Basu etc.

MMS IS A HYPE CREATED BY MEDIA THEN.

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  RE:Thank PV for liberalization, not MMS
by Raghu K on Jun 20, 2008 09:17 AM   Permalink
What you fail to understand is how radical an approach it was that MMS took in 1991. The country was deep rooted in a socialistic, red tape driven economy and opening it up for liberalization was a very bold move. It might have been something already tried in Europe but it was almost unthinkable in India. To hell with it, making huge profit from a business was considered something bad (on moral grounds) till few years back.

I agree there are other prominent economists. But its MMS who did something to save the ailing economy not others

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  RE:Thank PV for liberalization, not MMS
by kalyan ram on Jun 20, 2008 08:40 AM   Permalink
exactly....MMS tried to resign twice in PV narsimha rao govt unable to withstand opposition tirade against liberalization....it is PV narasimha rao who pursuaded not to resign and gave protection to MMS from opposition.....it is PV narasimha rao who had inducted MMS in to cabinet when MMS is RBI governor......PV narasimha rao is an visionary....unfortunately the entire credit goes to MMS

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  RE:Thank PV for liberalization, not MMS
by Tathagata Mukherjee on Jun 20, 2008 08:50 AM   Permalink

True, PV was a visionary. And Sonia pulled the plug from PV's feet using Keshari.

History will prove, congress had a chance to revive itself by allowing a non-dynastic leader to lead it successfully.

But for power hungry Sonia, it was too much.

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