I was a big fan of Manmohan Singh and used to be a vocal supporter. I had high hopes too that we finally have someone who understands what India needs but his leadership through these scandals has been poor, to put it mildly. In any case, when it came to liberalization, he had no other option. The previous budgets used expenditure control and increased exports as a strategy to solve the BOP crisis but it failed miserably. He couldn't have ignored the IMF and continued a policy that had failed for the last 4-5 years. In some ways, the previous finance ministers were already taking small steps towards that path by encouraging public sector disinvestment. I'm sure any other Finance Minister would have taken the same decision. On the topic of execution, his team did a great job. However, the Indian government always steps up when it is in a serious crisis. Whether it is Kargil/ Commonwealth/Tsunami/Terror attacks, we manage to unite in a crisis and find a way to get things done. So, should we start calling Shelia Dixit the "architect" of Commonwealth Games. I'm not so sure.
His current leadership is poor, mainly since there is little of it, as I stated in the grand parent post. So we are in agreement.
We agree for most things except the last.
No, other fin mins could have stopped short. As I pointed out in my post, this went on for 2 years. Once the BoP crisis was over, and the gulf war induced oil shock was gone, they had no reason to stay on course.
Check a chart on the price of oil for the periods under question, they stabilize pretty quick.
more credit should be given to PV N Rao, who was the driving force and the source of courage behind Manmohan.
Many people fail during crises. Just because some people step up when the chips are down doesn't mean that their achievement was ordained. It means they had the mettle and is actually more praiseworthy for their ability under pressure.
This is also why I brought up Russia. They opened up their markets and it was eaten alive by corruption the way a wolf eats a new born lamb.
Manmohan is given credit as the architecht and designer of the reforms because he designed it and decided who was to head what committe and what they should aim for. He obviously had people execute it. He is given credit where it is due.
HPG Is given credit for Ycomb in a similar manner.
While you may have stopped being a supporter, like many of us, it should have no bearing on his past achievements.
If anything it only highlights how he would have performed with a stronger hand behind the throne, sadly.
