MEGHNA MAITI
Mumbai
Now we know what it takes Manmohan Singh, the unusually cautious and phlegmatic technocrat, to leap into action and show some emotion: Keynesian ‘animal spirit’ in the country’s economy. When Pranab Mukherjee cracked a shot into Raisina Hill’s goal in the few minutes of so called “presidential poll game” on Wednesday, Manmohan waking up from his deep slumber raised his hands over his head and cheered like a jubilant supporter. Sporting the same black bandhgala and blue turban Singh swapped high-fives with the power team comprising planning commission deputy chairman Montek Singh Ahluwalia, PMAEC chairman C Rangarajan, chief economic advisor Kaushik Basu, and top finance ministry officials. The opponent team fans that had earlier jeered and hissed when Manmohan appeared on the field were reduced to silence.
They would have their moment of celebration -- a goal by Manmohan (as finance minister) in the few days that tied the game and prompted an announcer to declare, “The economy is revived from its inexorable slide into another abyss!” But the Indian celebration did not last long. One year after India scored in the year 2008, Wall Street and euro crisis booted home a thunderous volley, and sometime later, high fiscal deficit and still higher inflation scored with a similarly fearsome shot. Economy of India (if you may, please) -- supposedly the third largest in the world in terms of purchasing power parity -- scoring negative, was on its way out of the global tournament.
The score might not have been respectable but, in truth, the game was just as one-sided as it could be, with Sonia Gandhi and Pranab dominating from beginning to end. At half time, the emphatic announcer of the Indian team said the highlight of Manmohan’s stint as the erstwhile finance minister has been the very first kick of the game. “In India, one is supposed to be motivated by nobler and refined pursuits. Speaking loud is vulgar, even sordid in evolved societies,” the game announcer commented about Manmohan sarcastically. When in the second half, the opponent scored another goal against Manmohan, the announcer promptly said, “There’s no shame in losing to a wonderful team. Let the country go to dogs! Our refined, intellectual leader can go home with his head held high.”
The Indian team knows all about humiliations at the hands of other nations, and of course, they are not above drawing on the historic ones as well as the more recent. Nevertheless, where from our iconic leader Manmohan draws his reserves of strength? Born on September 26, 1932 in Gah, Punjab, British India, into a Sikh khatri family, his family migrated to Amritsar, India after partition. Terming him as the best example of integrity, Khushwant Singh stated, "When people talk of integrity, I say the best example is the man who occupies the country's highest office. He won the Wright's Prize for distinguished performance in 1955 and 1957. He was also one of the few recipients of the Wrenbury scholarship. In 1962, Manmohan completed his studies from the University of Oxford."
It is not likely that the ‘animal spirit’ in the game will revive soon. And Team Manmohan, based on his performance at least, looks to have a good chance of creating another quiet, sensational journey in the economic arena.
ENDS
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