English Release 1-October 2014
- President's Secretariat
- President Congratulates Medal Winners in
Asian Games 2014
- Swatchh Bharat Abhiyan in Rashtrapati Bhavan
- President Expresses Condolences
Over Loss of Lives Due to Crash of Army Helicoper in Bareilly, Uttar Pradesh
- New E-Payment Gateway System with Additional Features for Online Booking of Visits to
Rashtrapati Bhavan Launched
- Message to the Nation from the President on the eve of Gandhi Jayanti
- President Expresses condolences over loss of lives due to collision of trains near Gorakhpur, Uttar Pradesh
- President’s Durga Puja Greetings
- Vice President's Secretariat
- VICE PRESIDENT RELEASES BOOK “NEHRU GAZING AT TOMORROW” BY DR. H.R.BHARDWAJ
- Vice President Greets Citizens on Dussehra
- Vice President Confers ‘Sir Ross Masood Lifetime Achievement Award for Excellence in Leadership, Education, Community & Public Service-2014’ to Shri Saiyid Hamid
- Prime Minister's Office
- PM sanctions ex-gratia for victims of train accident near Gorakhpur District, Uttar Pradesh
- PM expresses condolences over loss of lives due to collision of trains near Gorakhpur, Uttar Pradesh
- Text of Remarks by Prime Minister Narendra Modi
at the Joint Press Briefing with President Barack Obama
- English Rendering of Remarks by Prime Minister Narendra Modi at the Joint Press Briefing with President Barack Obama
- Joint Statement during the visit of Prime Minister to USA
- Election Commission
- Gaming Your Way to Democracy: ECI Launches Video Game to Educate Voters
- Min of Civil Aviation
- Hon’ble Minister of Civil Aviation Launched the Massive Cleanliness Campaign under “Swachh Bharat Mission” at Airports across the Country.
- Min of Consumer Affairs, Food & Public Distribution
- Ram Villas Paswan undertakes surprise checks to see cleanliness in his Ministry
- Min of Corporate Affairs
- CCI issues order against Super Cassettes Industries Limited for abusing dominant position, imposes penalty of Rs. 2.83crores
- Min of Defence
- Defence Accounts Department Celebrates Its 267th Anniversary
- Air Marshal Jajgeet Singh takes over as
Air Officer-in-Charge maintenance at Air Headquarters
- 24th Edition of Ind-Indo Corpat Concludes
- Min of Earth Science
- Swachh Bharat Campaign at Ministry of Earth Sciences Launched by Dr. Jitendra Singh Amid A Call to Participate in the Cleanliness Drive Whole Heartedly
- Ministry of Finance
- Exchange Rate of Foreign Currency Relating to Imported and Export Goods Notified
- Auction for Sale (Re-Issue) of Government Stocks
- Different Departments of Ministry of Finance to take Coordinated actions to make Swatchh Bharat Campaign a Great Success; Action Plan Drawn to keep the Office Premises Neat and Clean; Goal is to Provide an Aesthetic and Congenial Working Atmosphere for one and all
- Due Date of Deposit of Tax Deducted at Source/Tax Collected at Source during the Month of September, 2014 extended from 7th October, 2014 to 10th October, 2014
- Repayment of 7.56% Government Stock 2014 and 11.83% Government Stock 2014 on November 03, 2014 and November 12, 2014 Respectively
- Min of Food Processing Industries
- Swachhta Abhiyaan Launched in Ministry of Food Processing Industries
- Min of Health and Family Welfare
- “Combine Ram Lila revelry with health checks”: Dr Harsh Vardhan
- Large turnout on National Voluntary Blood Donation Day
- Min of Home Affairs
- Cleanliness Drive in the Ministry of Home Affairs Under ‘Swachh Bharat’ Campaign
- PIO Card valid for Life Time
- Show Cause Notices to Associations for not Filing Mandatory Annual Return
- Min of Human Resource Development
- Union HRD Minister Smriti Irani Releases a Handbook –
Swachh Bharat Swachh Vidyalaya
- Min of New and Renewable Energy
MOU Signed for First Ever Offshore Wind Power Project in India
- Min of Personnel, Public Grievances & Pensions
- Combined Defence Services Examination (II), 2014
- Early closure of some Government Offices today
- The President of India authorises Shri Rajiv as Central Vigilance Commissioner
- Min of Petroleum & Natural Gas
- “Mission Swachh Bharat”
- Daily Crude oil price of Indian Basket was US$ 95.34/bbl on 30.09.2014
- Min of Power
- Message of Piyush Goyal on the Eve of Launch of
“Swachh Bharat Mission”
- Power, Coal, MNRE PSUs to Construct 50,000 Toilets in Schools
- Ministry of Railways
- Railway Minister Expresses his Profound Grief Over the Loss of Innocent Lives in Train Accident Near Gorakhpur in Uttar Pradesh
- Min of Science & Technology
- Dr. Jitendra Singh launches campaign of ‘Swatchh Bharat Mission’ in the Ministry of Science and Technology
- Min of Skill Development, Entrepreneurship, Youth Affairs and Sports
- ‘Punarjagaran’- Mass Awakening Campaign for youth to be launched on 2nd October, 2014
- India’s Performance on Day 12 of Asian Games 2014
- Min of Social Justice & Empowerment
- National Awards for Senior Citizens – Vayoshreshtha Samman 2014 presented
- Thaawar Chand Gehlot flags off Walkathon on the International Day of Older Persons
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.”
(Release ID :22902)