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English Release 1-August 2014
Date Month Year
  • President's Secretariat
  • President of India inaugurates International Conference on Natural Fibres
  • Inauguration of the International Conference on Natural Fibres
  • The President inaugurates New Building of Ghani Khan Chowdhury Institute of Engineering and Technology at Narayanpur
  • President congratulates medal winners in Commonwealth Games
  • Prime Minister's Office
  • PM encourages self-certification in place of affidavits and attestations to benefit the common man
  • U.S. Secretary of State John Kerry and U.S. Secretary of Commerce Penny Pritzker call on PM
  • Former cricketer Anil Kumble calls on PM
  • Min of Agriculture
  • Kharif Sowing Area Crosses 706 Lakh Hectare
  • Steps to Make Farming More Profitable
  • Setting up of National Fisheries Development Board
  • Encouraging Farmers to Use Improved Technology for Cultivation of Cotton
  • Min of Chemicals and Fertilizers
  • Essential Medicines Prices
  • Min of Commerce & Industry
  • Capital Investment Subsidy under NEIIPP
  • Sick/Closed Industrial Units
  • National Design Policy
  • Export Market for Grapes
  • Ban on Import of Products By EU
  • Export/Import of Gems/Jewellery
  • Tea Export
  • Export Target
  • Setting up of Special Board of Spices
  • Min of Consumer Affairs, Food & Public Distribution
  • About 81.35 Crore People to Get Subsidised Foodgrains Under National Food Security Act
  • Food Subsidy Estimated to be Around Rs. 1,31,086 Crore
  • The Steps to Expedite Payment of Pending Dues to Sugarcane Farmers
  • Transportation of PDS Foodgrains Through Sea Route to Ensure Timely Availability
  • Min of Corporate Affairs
  • Unclaimed Investment Fund with Companies
  • Lacunae in Company Laws
  • Min of Defence
  • Defence Offset Policy
  • Naval Warships and Submarines
  • Tailing of Patrols in Border Areas
  • Encroachment of Defence Land
  • Election for Cantonment Boards
  • Amount Due to IAF
  • Maritime Exercise
  • IAF Jaguar Aircraft Crashes
  • Procurement of Fighter Aircraft
  • Arrest of Somalian Pirates
  • Infrastructural Developments in Border Areas
  • Projects of HAL
  • Naval Exercises
  • Procurement of Helicopters
  • Astra and Akash Missiles
  • Defence Production Units
  • Bird-Hits to Military Aircraft
  • Sale of Tobacco Products in Defence Canteens
  • One Rank One Pension
  • Married Accommodation Project
  • Min of Earth Science
  • India Deploys its First Sub-Surface Ocean Moored Observatory in the Arctic
  • Min of Environment and Forests
  • ‘Clean energy path’ is the mantra for Government - Prakash Javadekar
  • Ministry of Finance
  • Transparency in Lending Loans Under Floating Rate Scheme
  • Corporate Employers Encourage to Join National Pension System for Corporates for Providing Pension Benefits to their Employees
  • Utilisation of Accumulated Pension Wealth on exit from the National Pension System for Corporates
  • Sampoorn Vittiya Samaveshan Mission to be Launched Soon to Provide all Households with Banking Services
  • RBI Issues Guidelines for Opening of Bank Accounts of Children
  • Manufacturing of Debit Cards, Credit Cards and other Cards in India
  • Printing of Currency Notes with Braille Signs to Assist Visibly Challenged Persons
  • Compensation by Insurance Companies
  • SBI Launches Six of Digital Branches
  • BRICS Development Bank to be set up to Support Infrastructure and Sustainable Development Projects among others
  • Sanctioned and Acutal Strength of Employees in Central Government; 30,84,530 Civilian Employees in Position
  • Small Saving Schemes for the benefit of all including Weaker Sections of Society
  • No Foreclosure Charges by NBFCS on all Floating Term Loans to Individual Borrowers
  • Infrastructure Trust Funds to be set up to Spur Investments
  • Min of Food Processing Industries
  • Mega Food Parks
  • Setting up of Food Processing Units
  • Increasing Capacity of Cold Chain Infrastructure
  • Min of Health and Family Welfare
  • Recognition of Ayush Colleges
  • Multimedia Campagins for Awareness and Prevention Regarding HIV/Aids
  • Findings from NFHS-I, II and III

  • 872 National Nutritional Rehabilitation Centres Functional in the Country
  • Global Instrument for Health Research
  • Ill Effects from Use of Oxytocin Injection
  • Setting Up of Satellite Units of AIIMS

  • Autism and Related Disorders
  • Medical Colleges Can Now be Set up in Two Pieces of Land
  • Use of Antibiotics
  • ICMR: No Conclusive Data on Effects of Mobile Phone/Tower on Health
  • Enforcement of Anti-Tobacco Laws
  • FSSAI Regulations on Packaging and Labelling
  • Pharmacy Colleges in the Country
  • Financial Assistance to Poor
  • Control of Fluorosis
  • Polio Vaccination for Resident Nationals Travelling to India
  • Cancer Care Facilities
  • Min of Home Affairs
  • Text of Home Minister’s Statement on Disaster in Pune
  • Min of Labour & Employment
  • We must judiciously tap into our natural resources and not mindlessly exploit them - Shri Narendra Singh Tomar
  • Min of Micro,Small & Medium Enterprises
  • Revamped Scheme of Fund for Regeneration of Traditional Industries (SFURTI)
  • Min of Minority Affairs
  • Schemes for Upliftment of Minorities
  • Min of Personnel, Public Grievances & Pensions
  • ACC Appointment
  • Min of Petroleum & Natural Gas
  • Diesel Under-Recovery decreased to Rs 1.33/litre for the fortnight commencing 01.08.2014
  • Ministry of Railways
  • PPP Projects under Railways Running on Profit
  • Railways will Run Six More Trains Connecting Shri Mata Vaishno Devi Katra
  • Railways Take Steps to Promote Religious & Historic Tourism in the Country
  • Railways to Develop 10 Major Railway Stations to International Standards
  • Railways to Provide 400 More Escalators at 172 Stations
  • Min of Statistics & Programme Implementation
  • Survey Regarding Employment in Various Sectors
  • Facilitation Centres under MPLAD Scheme
  • Handpumps under MPLAD Scheme
  • Per Capita Expenditure
  • Min of Textiles
  • Closure of Textile Industries
  • Scheme for Integrated Textile Parks
  • Incentive to Jute Industry
  • Target for Export of Readymade Garments
  • Ministry of Water Resources
  • Storage Status of 85 Important Reservoirs of the Country as on July 31, 2014
  • Min of Women and Child Development
  • Draft Juvenile Justice (Care and Protection of Children) Bill, 2014 circulated for inter-ministerial consultation
  • Min of Youth Affairs & Sports
  • Minister of Youth Affairs & Sports, Sarbananda Sonowal congratulates Indian medal winners on the 8th day in Commonwealth Games 2014
  • Planning Commission
  • Aadhar Grievances

Previous Date

 
Prime Minister's Office07-December, 2006 11:37 IST
PM’s Address At LSE Asia Forum Conference in Memory of Dr. I.G. Patel
The Prime Minister, Dr. Manmohan Singh, inaugurated a Conference of the London School of Economics Asia Forum in memory of Dr. I.G. Patel, here today. The following is the text of the Prime Minister’s address on the occasion:

“I am delighted to be here today to open a conference in memory of a very dear friend Dr. I.G. Patel. My wife and I have fond memories of a lifetime of friendship with “IG”, as we all knew him, and his charming wife Bibi.

I first met IG in 1954 before I went to Cambridge. He had just returned from the IMF and taken over as Deputy Economic Adviser to the Ministry of Finance. He gave me some sound advice for deriving the best possible benefit of my stay at Cambridge. This was the beginning of an association which lasted for over 50 years. When I returned home in 1957 after completing my studies at Cambridge, I was offered a job in the Ministry of Finance. However, I was under an obligation to return to my university in Punjab since I was in England on a scholarship given by that university and which required me to return home and teach at that university. So I could not join the government then. In 1962, when I was at Oxford, I.G. again invited me to join the Ministry of Finance. On this occasion too, I was unable to join the staff of the Ministry of Finance. It was more than a decade later that I finally did join the Government of India. As Economic Adviser to the then Ministry of Commerce, I had frequent interaction with I.G. Patel who was then Secretary, Economic Affairs in the Ministry of Finance. In 1972, I moved to the Ministry of Finance as Chief Economic Adviser. That position gave me an opportunity to work very closely with I.G. Later on when I was Secretary, Economic Affairs and I.G. returned to India, after a tenure with the UNDP, as Governor of the Reserve Bank of India, I worked very closely with him in formulating India’s macro economic policies. Because of his profound wisdom, knowledge and experience, I.G. was the natural leader of economists working in the Government. I, for one, learnt a great deal from him. In many ways, he was for me a friend, philosopher and guide.

The 1950s and the Sixties were a unique period in our developmental history. There was great interaction between officials in government and scholars in the universities, both scholars from India and from abroad.

We had, I recall, several distinguished economists like Nicholas Kaldor, Joan Robinson, Milton Friedman, John Kenneth Galbraith, I.M.D. Little, W.B. Reddaway and Daniel Thorner who spent some time at our Planning Commission. There was always a two?way flow of talent between institutions like the Delhi School of Economics and the Indian Statistical Institute and the various ministries of our government.

This interaction enriched the quality of academic research, making it more policy-oriented, and also contributed, I believe, to creative thinking within government. It has become fashionable of late to deride everything that was done in the realm of economic policy in those days. There are critics both on the Left and the Right. However, to be fair and honest, one must recognize that the early years after India’s Independence were truly exciting times in India. Under the inspiring leadership of Jawaharlal Nehru, a new generation of our countrymen tried to write on a blank slate and create a new nation State. The Indian economists were active participants in the national debate to build a new India free from the fear of want and exploitation.

There was much experimentation, since there were no known methodologies available for the construction of a new post-colonial nation. The political and intellectual atmosphere was charged with intense debate and discussion. Bold visions of a brave new world were being created on paper. IG was one of the many idealistic young economists who chose to participate in that great adventure of nation building.

Under the leadership of men like Dr. V.K.R.V. Rao, Sir Chintamani Deshmukh, Prof. P.C. Mahalanobis and Prof. J.J. Anjaria, a new generation of brilliant economists that included K.N. Raj, I.G. Patel, Pitambar Pant, S.R. Sen, V.K. Ramaswami and many others joined government.

Economists, scientists, scholars from various disciplines, worked closely with civil servants and political leaders to chart a new course for the Indian economy. Men like IG, who preferred a career in government to a career in academia, provided that crucial link. It was both an intellectual link and a warm personal link. I confess I miss that environment today. I do hope we can somehow re-create it and facilitate greater lateral mobility, in and out of government, and a freer flow of ideas so that both policy and research are enriched through this process.

In paying tribute to IG, I must also pay tribute to the London School of Economics and Political Science. LSE has always had a strong India link. Some of LSE’s faculty, like Vera Anstey and Harold Laski, were extremely close to India and to Indians. Professor Laski had great many followers even among our political leaders at the time. Many of his students, like P.N. Haksar and our former President K.R. Narayanan, had distinguished careers in our government. Often their appointment to government service was based on a mere note of recommendation from Professor Laski to Jawaharlal Nehru!

Even before Independence, LSE contributed several distinguished economists to India, like Dr. J.J. Anjaria. In the early years after Independence there was a flood of them who returned home from LSE to participate in the great saga of national development. The most prominent of them was K.N. Raj, who was recruited by Jawaharlal Nehru to help draft the First Five Year Plan at the tender age, I believe, of 27!

What I have always appreciated about LSE is the emphasis on inter-disciplinary approaches in its academic programmes. LSE took a holistic view of social sciences and of development. Its faculty appreciated the links between economics, politics, sociology, anthropology and law in the development process. In more recent decades we see excessive specialization in social sciences, and economists fancy themselves to be social engineers and technocrats.

But we must never forget that economics began, after all, as political economy. Economic policy making has always involved political choices since it has political consequences. IG belonged to a generation that recognized this ground reality. He knew that the choices our economists were recommending for adoption by our country had to be marketed in the political marketplace of a functioning democracy. It was not enough that these choices were rational, or that their costs and benefits could be measured. It was not enough that the arguments were intellectually consistent or were mathematically tested. In a democracy such choices had to be also politically defendable and acceptable.

It was a tribute to the holistic education that IG received at Cambridge that he was not only a good Economic Advisor, a good Finance Secretary, a good Central Bank Governor but also a good administrator who excelled in his understanding of the political economy of development.

In the past century LSE has contributed a great deal to the economics of development, especially in Asia. I am, therefore, pleased that you have today an LSE Asia Forum. Just as LSE focused its intellectual resources on the development challenges facing the post-colonial developing world, it must now study in depth the growth dynamics in Asia and its implications for the world economy and polity at large.

The most important development, I believe, of the 21st century will be the rise of Asia. China has already trebled its share of world GDP over the past two decades and India has doubled it. Both these giant economies of Asia are bound to gain a considerable part of their share of world GDP that they had lost during the two centuries of European colonialism. While Japan will continue to be at the top in the foreseeable future, the newly industrializing economies of East and South East Asia will, I believe, grow even if not at rates we witnessed in the past two decades.

Taken together, the rise of these Asian economies will alter the balance of income distribution at the global level. This need not worry the West, since a dynamic Asia can power global growth and provide new opportunities for growth for Europe as well as for North America.

But, it is essential that the West should come to terms with the consequences of the rise of Asia. In the long run of history, nations rise and fall. This in itself is not a new phenomenon. Regrettably, though, the record of history is found wanting as far as the ability of nations to deal with such ebbs and flows of history is concerned.

One of the re-assuring aspects of the on-going growth process is that it is more orderly. Just as the world accommodated the rejuvenation of Europe in the post-War world, it must now accommodate the rise of new Asian economies in the years that lie ahead.

What this means is that we need global institutions and new global “rules of the game” that can facilitate the peaceful rise of new nations in Asia. It also means that existing global institutions and frameworks of cooperation must evolve and change to accommodate this new reality. This is as true for the reform and revitalization of the United Nations and the restructuring of the United Nations Security Council, as it is true for the management of multilateral trading system, or for the protection of global environment or for the security of world energy supplies.

Western academic institutions played a leading role in shaping intellectual thinking after the Second World War to facilitate peaceful post-war reconstruction and development of Europe and of Japan. Once again institutions like the LSE must ponder over how the world can now accommodate the growth aspirations of the developing world so that the rise of Asia is peaceful.

We often say that globalization is a reality that we must contend with. We also say that globalization offers opportunities as much as it poses challenges. That people and nations must learn to deal with both. But, there are still many unsettled questions pertaining to globalization. Even the discipline of economics has not addressed the phenomenon in a holistic manner. For example, while there is enormous, and quite longstanding literature on the benefits of free trade in goods and free flow of capital, the literature and policy on the free movement of people remains scanty and patchy.

There are questions pertaining to the globalization of lifestyles, and its consequences for consumption, and their impact on the world environment. Is growth sustainable if development in the developing world merely mirrors the experience of the developed? It is not just that Third World households may not be able to afford western consumption standards, our planet would not be able to do so.

If every consumer in India and in China, totaling up to almost 3 billion, want to live like people in San Francisco, Stockholm or Singapore, can they afford to? Can nature afford it? If not, how do we alter lifestyles and consumption patterns so that the growth process is sustainable in a more globalized world?

I believe, a new generation of economists and social scientists have to once again write and draw on blank slates, like IG’s generation did. There are, I believe, no textbook solutions. There are no pet answers, no clever models. The rise of Asia, and of the developing world in general, presents us with new challenges – new intellectual challenges, new technological challenges, new organizational and political challenges.

I hope your forum, and forums like yours, will be able to inspire younger scholars to address these questions and seek answers. For the need of the hour is to do so. I wish your conference all success.”

*******

YSR/DS/LV/CS
(Release ID :22902)

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