FROM 50 YEARS AGO Finance Minister. In a party system of govern-Besides the Finance Ministry, TTK would ment, a key portfolio as the Finance Ministry be in charge of the Ministry of Iron and should be held by a trusted member of the Steel. This would be an odd combination party in power. This is not only natural but of portfolios but for the fact that TTK had desirable. Those who appreciated the former been in charge of the latter Ministry for Finance Minister’s oblique criticism will be some time...As Minister for Iron and Steel,
Vol VIII, No 36, September 8, 1956 amused at TTK’s reply to the Lok Sabha debate TTKhasbeen, from the beginning, associated
on the Bill to enhance the excise duty on cloth. with the Government’s policy of developingCabinet Reshuffle TTK made it clear that he did not, and does the iron and steel industry within the public (Weekly Notes) not, endorse the Congress policy to the sector. He is familiar with the origin and
organised sector of the cotton textile industry. nature of the complicated negotiations with
Shri T T Krishnamachari, like his predeces-...But why did the Prime Minister take such foreign countries and groups for developing sor, fought and won a seat in Parliament on a long time to unburden himself of his nu-iron and steel industries within the public a Congress ticket. Both are, in this sense, merous responsibilities? Could it be that TTK sector. His sympathetic treatment of the Congress members of Parliament. But both are was finally chosen because no veteran party problems of expansion of the major private out of Congress. In his address to Parliament member was deemed fit to be the Finance iron and steel industries has been duly on the issue of his resignation, Shri Chintaman Minister. If nobody could be discoverednow, appreciated by the Chairman of one of these Deshmukh recalled his experience as Finance the probability is that Congress would not concerns. It is as well that he remains in Minister in support of his cryptic comment find any party member suitable to become charge of the Ministry of Iron and Steel that it would be safer for the Congress Govern-Finance Minister even if it were returned to to ensure continuity in the Government’s ment to have one of their party members as power at the next elections. steel policy.
Economic and Political Weekly September 9, 2006
