Monday, April 30, 2012



 On The Turnpike  by TCA Srinivasa-Raghavan; Published by Academic Foundation ; Pages 101; Price Rs 1500/-
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                                       TCA Srinivasa-Raghavan is a well-known analyst whose columns have adorned several financial dalies. He had a role to play in Third volume of R B I History. The book under review is a “Coffee-Table book" brought out by the Finance Ministry on the occasion of the Indian Economic Service completing fifty years.One must say the Ministry of Finance has put no restraint on the author.

                                           The members of the I E S  have displayed professionalism, commitment to duty and intellectual incisiveness. They have ably translated abstract intellectual and theoretical ideas into practical policy alternatives.

                                            The  I E S was founded in 1961, at a time when India was attempting to enhance the development process and attain self-reliance. The service brought economic theory  closer  to practice.

                                          Dr.Bimal Jalan poses two problems for the I E S. One is to ensure delivery of services like the public distribution system, water availability, provision of electricity. Health services, etc. The second one is why India’s Human Development Index is among the lowest despite a growth of 8 to 9 per cent. He recommends I E S  for the states. 

                                             The book begins with the text of the note prepared by the  Secretariat seeking Cabinet approval to the constitution of an Economic and Statistical Services. The dissenting views of Prof.P.C.Mahanalobis is also covered. We learn why the two Services were not combined.

                                 Analysing budgets,the years  1947-1957 are accurately described as “The Age of Innocence”—when we had fiscal rectitude and  balanced budgets. The Finance Ministers were Shanmukham Chetty, John Mathai and C.D.Deshmukh.The next decade transformed India into a laboratory of economic experiments. The showcase was held up to the world with pride. The successor to Deshmukh was  T T Krishnamachari—TTK—acerbic, arrogant and brilliant. He was the father of the Industrial Policy Resolution of 1956, the founder of Development Financial Institutions such as IDBI and ICICI. A colourful description is given of  TTK’s guru  Nicholas Kaldor—a fiscal Robinhood strongly believing in redistribution. TTK was his Friar Tuck. Kaldor proposed Capital Gains Tax, Wealth Tax, Gift Tax and Expenditure Tax. TTK's budget created a storm of protest and he had to quit—thanks also to LIC  and  Mundhra.

                                          The next six budgets were presented by Morarji Desai—an able consolidator, rationalist and administrator.He reclassified the Budget making it a premier document adopting clear presentational methods. The early sixties saw India suffer ignominious defeat at the hands of the Chinese and the economy was in disarray. TTK  staged a come-back and tried to set the economy on a course which would encourage investment, raise savings, solve the balance of payments problem and in general restore confidence by reducing the rigours of brutal taxation.

                            In a space of twenty years India lost two Prime Ministers, fought two wars and grappled with a major drought.We had a 'Crisis Incarnate'.It was a 'Lost Decade'.Then came Indira Gandhi and a new dawn.

                                Historically the next defining period was 1970-1979.Morarji raised overall level of taxation, tightened import controls. The foundation was laid of the 'Quota-permit control Raj'. Indira who presented the budget used it as an instrument of politics. From 1970-1974 the economy turned sharply left. Indira set the tone as she presented the 1970 budget.

                The fiscal crisis of 1973--1974 acted as a damper on the redistribution zeal  of government. Y.B.Chavan presented a mini-budget aimed at eliminating inflation,cutting expenditure by direct and indirect means. The budgets of the emergency years revealed caution and good housekeeping. By 1979 thanks to high oil prices and inflation the good work of the previous five years was undone.

                     During the period 1980-1990 government pursued growth through heavy deficit financing ignoring structural reforms, By 1981 a huge loan was obtained from the I M F  which led to some stability.

                   The budget of Pranab Mukherjee--1982-1983 accelerated the pace of import substitution, increased exports and enlarged remittance facilities.Rajiv Gandhi gave impetus to growth, cut taxes, liberalised imports and eased rigours of industrial licensing. The huge drought of 1987 madeIndia to go in for large imports. India was obliged to mortgage its gold to the Bank of England and impose severe import  restrictions.

                                         The gradualist pace of reforms changed the rate of growth from 4 percent before the 1980s to 8 percent since 2004. Dr.Manmohan Singh devalued the rupee in two slabs of 16 and 6 per cent, slashed export subsidies and almost abolished industrial licensing. His liberalisation of trade and investment, financial sector reforms, privatisation made a real impact on the economy.The 2008 global financial crisis had no impact on India.

                                 This is an outstanding work both visually and intellectually. We have exquisite portraits in black and white--sure to evoke nostalgia in all of us. TCA Srinivas-Raghavan's capsule history is an achievement by itself. His racy chatty style adds to the charm of this remarkable volume.

P.P.Ramachandran

29-04-2012



Emerging India by Bimal Jalan ; Published by Penguin / Viking ; Pages 307 ; Price Rs. 599/-
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                                                       India is ruled by an ex- R B I Governor and ex-Finance Minister. The P. M’s Economic Advisory Board is headed by another ex-RBI Governor.  Yet the nation is teetering on the precipice of economic decline with a reduction in annual growth and burgeoning inflation. Why --with such a fund of expertise?  The book under review is an attempt to solve this riddle.

                                                       Dr.Bimal Jalan was a distinguished Governor of the Reserve Bank from 1997 to 2003. He became a nominated member of the Rajya Sabha. Apart from serving as Chairman of the Economic Advisory Council to the P.M, he has held high positions in the Planning Commission, in several ministries and represented our country in the Boards of the I MF  and  I B R D. He has written a number of books, noted for their clarity, conciseness and clear grasp of the problems that plague the nation. His is a voice to be heard with respect.

                                                       The book under review is a collection of his selected papers, lectures and a few unpublished notes— relating to  1990 to 2010.They provide a bird’s eye-view of the evolution of India’s politics, economics, governance and economic reforms and the lessons for tomorrow. India could boast a couple of years ago of a high reputation as a democracy and a growing global power. But today it is riddled with reports of ever-widening corruption, misgovernment and utter despair about the working of its political system. Our future is a big question mark!



                                                          In the last two decades India displayed a capacity to grow faster than ever before, eliminating poverty to a considerable extent. Certain reforms seem imperative now to ensure future success. According to Jalan the main areas of concern are the growing disjuncture between economics and politics and the emergence of a “Public-Private ” dichotomy in the growth trajectory, diminishing accountability of the Executive to Parliament, rising corruption, the preponderance of criminal elements in politics and the emergence of small regional parties in multi-party coalitions.  There is a definite decline in the quality of public administration at all levels. Economic disparities have enlarged and pose a serious threat to unity.

                                                The book is divided into four Sections. The first Section, with five articles, concentrates on political issues that cry for a solution to ensure that India retains its position as a global power. In view of the so-called “Compulsion of Coalition” our political system is characterized by features not thought of by our Constitution makers. Governments have become non-accountable. Inner party democracy is non-existent. Political corruption has become rampant. An Independent judiciary is unable to deliver justice swiftly due to heavy backlog of work. There is a compulsion to create an efficient and transparent administrative mechanism at arm’s length from Government as also a need to simplify procedures. Ministries ought to be made more accountable.

                                                        The next Section is on India’s economy, policy and prospects and has six essays. India’s emergence as a global power is due to our competitive advantage in providing skill-based services to the rest of the world—thanks to the infrastructure of technological institutions, skilled workers and low labour costs. One paper analyses the impact of Globalisation on India .

                                               
                                                        The third Section on Money, Finance and Banking is the meatiest part of the volume and has seven articles discussing in depth our management of the financial sector during the Asian Crisis and later. Banking ethics are also scrutinized. Jalan suggests that India must remain in the forefront of global regulatory norms to ensure soundness of international banking system. Revolutionary changes in banking and consequential impact are analysed succinctly. The economist strongly supports sustained growth with financial stability. Exchange rate management ought to be in the form of a flexible but managed one. The I M F has declared our policy as realistic and competitive.

                                                    The concluding Section has seven pieces on India’s economic reforms. Three of these articles relate to 1974 and 1975 and have a historical value. We must accelerate the pace of banking reforms leading to efficiency of operations and reduction of costs. India must adopt global best practices in financial sector regulations and adapt these to domestic environment.

                                                        Why was India’s reform process during the last forty years limited in scope?. These are answered in the article, “The Politics of India’s Reforms”. What can be reformed and what cannot be gets determined politically. “Compulsion of Coalitions” affects economic reforms. Corruption has enveloped every sector and is a serious threat to the security and well-being of the citizens and is an affront to democratic values. The Lok Sabha has 100 members with proven criminal records.

                                                             Jalan concludes on an optimistic note. India has the capacity to realize its full economic potential and become one of the fastest growing countries. This book is a sterling contribution to making this possible.


P.P.Ramachandran
6-02-2012
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Bismillah Khan ---the Maestro from Benares by Juhi Sinha ; Published by Niyogi Books; Pages 176   ; Price Rs.795/-

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                                        The author of this book is a renowned film-maker and writer. She has presented several programmes  on Doordarshan. Her last book “Beyond the Dunes ..” dealt with Rajasthan. The volume under review is the transformation of her film “Bismillah and Benaras ” into a book. And what a fascinating and lovely book !.

                                        When Sinha met Bismillah Khan for the first time he was ninety years old but his memory was sharp, his anecdotes crisp and his words painted a vivid picture of Benaras and its people, its unique celebration of music, dance, festivals and a deeply ingrained sense of the  joi-de-vivre that was the hallmark of Benaras culture .

                                       Bismillah Khan was born in Dumraon, Bihar . Dumraon is famous not only for Bismillah Khan but also for being the place where a special kind of reed, the narkhat , grows wild. These reed frets are transformed into shehnai—even today. His ancestors were court musicians and used to play in the princely state of Bhojpur in Bihar . His father was a shehnai player in the court of Maharaja Keshav Prasad Singh.

                                       Bismillah Khan was sent to Benaras when he was  less than six years old. He grew up in the house of his maternal grandfather Rajat Ali in Benia Bagh. All his uncles were shehnai players and were attached to temples. His youngest uncle, Ali Bux played every morning at the holiest of holies—the Viswanath Temple. In addition all were proficient singers. Bismillah Khan himself had a mellifluous voice.


                                        Bismillah Khan ’s recollections of his childhood were vivid--the sweets of Benaras and its people. He was given a shehnai to practice when he was seven or eight—the journey continued for the next eighty years. He began practising in a room in a temple near the Balaji temple. His grandfather in Dumraon taught him to roar like a lion and impressed on the boy the importance of lung power. The youth joined an akhada  and strict adherence to exercise and diet control gave him power and strength so that his music poured forth into sonorous tones. Daily riyaz would last eight hours. His pristine classicism was more inclusive than usual. It included chaiti , kajri and jhoola, semi-classical forms noted for earthiness and sensuousness.

                                         Even at a young age Bismillah Khan  experienced  the transcendental quality of music—where music is divine. He had mystic experiences. He had the vision of a “Baba”---who he believed was “Balaji Viswanath” himself.

                                         His creativity was greatly influenced by mehfils  --small audiences characterized by personalized response and appreciation. The singers of Dal Mandi too had influence on him . His first appearance was at the Allahabad Music Conference in 1930. His uncle who was the main artist gave him a chance and he gave the notes a style and quality all his own. At an early age he got a gold medal at the Akhil Bharatiya Sangeet Sammelan. Awards and acclaim followed in quick succession.

                                       He got married at sixteen to his uncle’s daughter. The couple had five sons and four daughters. Bismillah had a large picture of Saraswathi to whom he would pay obeisance. Though a pious Shia Muslim, he was also, like many Indian musicians, regardless of religion, a devotee of Saraswati  and often played at Hindu temples, including the famousViswanath Temple Varanasi, on the banks of the Ganges . He believed in tapasya-- to efface the self to music and the guru.

                                      It was Bismillah Khan who transformed single- handed the humble shehnai—a common wind instrument into an instrument of stature, one whose music is celebratory, sublime and supreme. He is one of the finest musicians in post-independent Indian classical music and one of the best examples of Hindu-Muslim unity in India. He played shehnai to audiences across the world. He was known to be so devoted to his art form that he referred to shehnai as his begum  after his wife died. On his death, as an honour, his shehnai was buried with him.

                                     When India gained Independence Jawaharlal Nehru ensured that it was heralded by the strains of Bismillah Khan’s shehnai—which he played from the Red Fort on the eve of India's Independence in 1947. He also performed from the Red Fort on the eve of India’s first Republic Day ceremony, on January 26, 1950. His recital had become a cultural part ofIndia's Independence Day celebrations telecast on Doordarshan every year on August 15. After the prime minister's speech from Lal Quila, Doordarshan would broadcast a live performance by the shehnai maestro. Happily he played on the 50th Independence Day celebrations. He played the instrument for the film “Goonj Uthi Shehnai” and some years later for A.R.Rehman for the film “Swades”.  Honorary Doctorates have been conferred on him by the Benaras HinduUniversity and the Viswabharati University. He bagged all the three Padma awards and the ultimate Bharat Ratna. Other awards included Sangeet Natak Akademi Award, Tansen Award and three medals in All India Music Conference, Calcutta. At the age of 16 he got the  award as the "Best Performer" in the Allahabad  Music Conference .

                                   The book gives an insightful look into the home and heart, muse and music of one of the greatest artists that India has ever produced. It traces Bismillah Khan’s journey from the small town of Dumraon to Benaras and  to the world. It follows him as he grows from child to man, shagird to ustad and pupil to legend. It lovingly portrays the whims and foibles of Bismillah Khan – an artist, whose stature as a musical legend could never quite overshadow the wit, humour and charisma of the man.. Juhi Sinha’s lavishly illustrated Coffee table book is well-crafted. No one who wants to learn of Bismillah Khan and Benaras can afford to miss this volume.


P.P.Ramachandran
24-01-2012



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 M S and Radha by Gowri Ramnarayan ; Published by Wordcraft ; Pages ; Price Rs 709/-
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Gowri Ramnarayan who is the grandniece of  M. S. Subbulakshmi   is a  journalist who writes on music regularly for the “Hindu”. Having accompanied M S for 16 years she is eminently fitted to write on M S. She has done research on the role of emotion in art. She has written a number of books and translated stories of Kalki and Vijay Tendulkar. The book under review is the story of the bond between M S and her daughter Radha.

                           Pandit Ravi Shankar, who writes the Foreword to this book has stated, “M S’s aura, beauty and persona captured the audience even before she sang a single note. Her amazing voice had the tonal quality of a temple bell, which resonated throughout the concert hall. It was unique, combining deep pure emotion and technical perfection.”
She represented in her simple everyday life, the values of an ancient culture—humility, compassion, consideration for others and unwavering principles of conduct—all these ingrained in her from her childhood.

                           The M  in her stood for Madurai—the sweetness of Madurai Tamil, the fragrance of Madurai malli, the gentleness of Madurai people, the magnificence of Madurai in legend , history and literature, all equally celebrated in verse and song. The S in her stood for her mother Shanmukhavadivu who was an eminent Veena player. Her grandmother Akkammal  was a violin artist. Thus, she was from a family of musicians.


                             M S , initially trained by her mother, was later fine-tuned by the doyen Semmangudi Srinivasa Iyer. She acquired the status of a saint by her portrayal of Meera. She captivated the world by the grandeur of her voice. The man who transformed her from an ordinary singer to a Bharat Ratna was her husband Sadasivam. M S  made music and Sadasivam made M S.


                                She was the first woman to storm the Madras Music Academy’s and later bagged  the most coveted  title in the world of Carnatic music Sangita Kalanidhi.  India's highest civilian honour  Bharat Ratna was conferred on her but regrettably after the demise of Sadasivam .

                                Gowri Ramnarayan tells the story of this  great singer from Madurai and deals with  the special relationship between MS and  Radha. She  takes us through Radha’s early training in music, her highly acclaimed debut as the young Meera in the film of that name which made MS an icon, her brief branching out as a Bharatanatyam performer and her eventual return with the tanpura to her assured place beside MS. The story begins in an intimate and vivid moment in 1936 when a two-year-old girl with sparkling eyes and two well-oiled plaits, is introduced to a beautiful woman as she steps down from a horse-drawn cart in a narrow Tiruvallikeni street. As she is "enveloped in a cloud of jasmine", her father T. Sadasivam says, "Radha, from now onwards, this is your mother".

                                     Radha deleted  her real mother  from her memory. She attached herself to MS, who became over the years her mother, teacher, sakhi and nurse . She became a part of a musical journey in which M S led  her all over the globe. She virtually became M S’s shadow. Her exposure to music began the moment her new mother entered her life. She would sit for hours listening to M S practice and would sit with her on stage, remaining completely still and absorbed. Music entered her without her even realising it.  Radha had a native  sense of rhythm, amazing  photographic memory and natural vivacity. M S  and Radha became inseparable in all concerts.  A veteran  declared , "To see MS on the stage without Radha is to see the sky without the crescent moon. No doubt it is vast and starry, but something is missing."

                                    Radha had a brief career as a dancer but rendered full support to her mother.  She declared proudly "Sacrifice implies loss, but being second voice to Subbulakshmi is indeed a gain. It is my great good fortune to be able to sing with Amma."  Radha assisted M S in all her personal matters until she was overcome by tubercular meningitis and bedridden. Roles were reversed and MS took care of her as if she were a child again.

                                     Prime Minister Manmohan Singh , releasing the book  declared , “ MS was a rare individual and it is difficult to believe that she existed in flesh and blood. She shaped the lives of millions,” He recollected how Jawaharlal Nehru had said at the end of a concert: “What am I? A mere Prime Minister before the queen of emotions. She led a good life and her voice will inspire generations.”

                              The author declares “In writing about M.S. Subbulakshmi, I am asserting the values that our nation holds dear — damyata, datta, dayathvam (restraint, generosity and compassion). M S sang this prayer song at every concert with conviction and hope.” The greatest virtue of this volume are the stunning photographs of yesteryears---the like of which we have seldom seen. There are detailed and delightful descriptions of  M S’s and Radha’s musical development and the range of their stupendous repertoire. 

                                    Here is a book worth cherishing for its breezy style and collection of rare stories about the legend M S—to whom Sarojini Naidu  surrendered her title, “Nightingale of India”. 

P.P.Ramachandran
21-12-2011