Saturday, May 24, 2014

Dinesh Kamath's Editorial 'A great Economist but a poor PM' that was published in Newsband

A great Economist but a poor PM
Dr. Manmohan Singh’s 10-year term as Prime Minister has come to an end. Dr. Singh bows out of office, the economy is gripped by a serious slowdown, inflation is stubborn, industrial output growth is negative and investment sentiment is at its lowest in recent memory. The absence of a strong, assertive prime minister was felt in the aftermath of the spectrum scandal and the coal-blocks allocation scam.
Dr. Singh’s stewardship of India’s geo-strategic challenges must be given fair marks — though many of his projects have remained works in progress, and future historians may debate if the gains were born of circumstance or strategy. India’s entry into the G20 was helped along by his standing as an economist and scholar who could engage with ease with world leaders on global economic issues. Dr. Singh’s first term saw an unprecedented deepening of ties with the United States. Those ties are on a firmer footing than ever before.
However, the negative dominated over the positive in case of Dr Manmohan Singh. Given his own lack of a political base, Dr. Singh was bound to feel the pressures of running a government under the watch of Congress President Sonia Gandhi. The emergence of a third power centre in the person of Rahul Gandhi later constrained the working of the government. The National Advisory Council, chaired by Sonia, functioned as a shadow cabinet moving and vetting important policy decisions. This is the reason why the BJP was able to portray Dr. Singh as a weak and ineffectual Prime Minister and Ms. Gandhi as a powerful extra-constitutional authority.
History will remember Dr. Manmohan Singh as "The Economist" who opened up Indian economy to grow far more quickly than they would otherwise have done. His role as a Prime Minister may draw flak towards the end simply because Politics is not his cup of tea. He is an honorable man who is "over qualified" for Politics.
That he was a great human being alone wouldn’t qualify anyone to head a vibrant largest democracy of the world. By no yardstick, that would suffice. What the nation looked forward to was a “Leader”, a “Visionary” and one who could make the Nation stand up to the strongest of Nation, one who cares for every Indian (not just a section, and definitely not a foreign lady), one who puts his foot down against adversaries (or friends) in the interest of the Nation. It needs no repetition that he failed on all these counts.

It was not Dr Manmohan Singh who was humiliated – it was the Office of Prime Minister that was debased and denigrated.

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