India's New Development Agenda by Dr.N.A.Mujumdar

India’s New Development Agenda by Dr.N.A.Mujumdar ; Published by Academic Foundation ; Pages 223 ; Price- Rs 895/-

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                                             Dr.N.A.Mujumdar is an authority on Agricultural Economics and is currently the Editor of the Indian Journal of Agricultural Economics and the Honorary Professor at the Society for Development Studies. He was  Principal Adviser, Reserve Bank of India and Lecturer in the highly respected School of Economics of the University of Bombay. The I.M.F appointed him as Adviser to the five Central Banks of Zambia, Mauritius, Belize and Cambodia. He is author of a number of books including two volumes on Indian Agriculture.

                                               Ours is a defining moment in the history of the global economic system. The 2008 collapse of the capitalist model of the American economy was as traumatic as the crash in 1991 of the Russian communist model. India discarded the centrally planned model and adopted the capitalist model since 1991. Where do we go from here?.

                                                 The book under review is an attempt to convince us that we must grow up from the conventional growth economics trapped in market theology to resonate to larger concerns of holistic development. The author has assembled thirty of his articles and speeches at different fora. He pleads for a broad-based, decentralized growth which would facilitate access by the poor to employment, food , nutrition and health and quality education and ensure safety nets that reduce the vulnerability of the poor—all these efforts resulting in  a value-based society. 

                                                 The analysis in the book proves beyond doubt that the economic reforms introduced in 1991 diluted the development content and reforms soaked in market theology went further degenerating  into anti-development instruments. Unbridled market philosophy during 1991—2004 had a negative impact.

                                            The book is divided into five parts. The first part dealing with approaches to development has nine articles. All those involved in development of our economy have to re-think their strategies in response to the new emphasis given on “inclusive growth”. The essay on ‘Sustained Development’ emphasizes that intra-generational equity is as important as inter-generational equity. Sustainable development is a co-operative enterprise in which both public and private enterprise have a role to play. Public and private—community-centred development is the key to sustained development. Three core issues in the present financial scenario are —Inclusive growth or broad-based decentralized growth in the real sector, New architecture of the financial system to facilitate such growth and the Inequitable interest rate structure. These must be tackled vigorously for India to progress.

                                                 The second part of the book is devoted to the Financial Sector reforms and incorporates three essays. There is a cogent analysis of financial inclusion which demands a systemic perspective on the part of the players. The High Level Committee on Financial Sector Reforms under the Chairmanship of

 Prof. Raghuram Rajan has come in for a severe drubbing by the author. “The recommendations of the Committee are based on amateurish understanding of the Indian economy. The Committee has failed to address the basic issue of how to reshape the financial system to promote inclusive growth. The Report belongs to the genre of IMF / World Bank reports, characterized by excellent presentation, obsessed with market theology and marked by a sense of superciliousness. The authors of the Report lack a sense of Indian economic history”.—a stern indictment indeed. Incidentally, the Committee did not include a member from R B I.

                                              “Monetary and Credit Policies” form the subject matter of part three and has ten essays. There is a critical analysis of policies in the post-reforms period and a stirring call on the part of R B I  to evolve a blueprint of area-specific plans to facilitate banks and financial institutions to promote inclusive growth in the real sector. A number of essays analyse credit and monetary policies during 2007—2009.

                                                    The fourth part is concerned with global crisis and India and has six articles. Three of these analyse the role of R B I and the author quotes Nobel Laureate, Prof. Joseph Stiglitz—“Our ( U.S ) financial system collapsed because we did not have a Dr.Reddy at the helm.” There cannot be a better tribute to the management of our banking system.

                                                    The final part is dedicated to the Agricultural Sector and has two articles. It draws pointed attention to three issues—(i)-Exports of foodgrains, (ii) Foodgrains management and (iii) Watershed development.

                                                     This is a book bursting with radical ideas and presents an incisive analysis of our problems. It is warmly commended to all students of agriculture, banking and central bankers.

P.P.Ramachandran

Healing with Homeopathy by Mukesh Batra

Healing with Homeopathy by Dr.Mukesh Batra ; Published by Jaico; Pages 568  ; Price Rs. 395/-

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                                     Homeopathy is an alternative system of treatment which is winning increasing acclaim all over the world. This system of medical treatment was started by Samuel Hahnemann. It is based on the premise that the symptoms of a disease are evidence of a cumulative process going on in the human body in response to the disease. The Homeopathic physician attempts to promote the further development of these symptoms in order to accelerate the body’s self-cure.

                                     Homeopathy is derived from the words

“homeo” and “pathos” meaning “ similar suffering ”. A cure is selected which, in its crude form, would produce in a healthy body the same symptoms found in a person suffering from the specific disease.

                                     Homeopathic remedies are discovered through a process called“proving”. In “proving” various substances are administrated to healthy people and their effects carefully observed. Homeopathic physicians give patients only one remedy at any time. They believe that using a combination of remedies interferes with the efficacy of each particular remedy. Remedies are diluted so that the patient receives the minimum effective dose. This procedure is thought to maximize the benefits of the treatment. An added advantage is that it also prevents harmful side-effects.

                                    

                                       Samuel Hahnemann , a German  who practiced in Leipzig, founded the homeopathic method of treating diseases. His two books published in 1911  and 1933 contain his chief ideas—(i) Like cures like, (ii) Medicines become more potent as they are diluted and (iii) Itch causes most diseases.  He strongly believed that the basic cause of illness starts from the mind. He thought of the mind-body connect, when psychology was a small part of philosophy. According to him, when the balance of body and mind is restored the human body is free of illness.

                                      The foremost Homeopath in India is Dr. Mukesh Batra, who has established a number of clinics all over the country. In the book under review, Dr.Batra offers a guide to holistic healing. He has neatly arranged diseases alphabetically. In absolutely simple language the layman can know about any particular disease, the symptoms, the manifestations and what remedy can be applied for each ailment. On the basis of his experience of over three decades he has culled out and provided case-studies and he presents a simple, easy to comprehend list of “Do’s and Don’t’s”. Furnished are capsule accounts of over 100 ailments arranged from “A to Z”. With this book in hand the patient can fearlessly choose his remedy for particular ailments.

                                          In today’s world we have become slaves to allopathic medicines and suffer the tyranny of the pill. Doctors prescribe too many medicines in order to satisfy or reassure the patients. Over-use of drugs is making more and more people sick. Excessive addiction to antibiotics leads to allergies, stomach disorders, diarrhoea and general debility. The new medical mantras are specialisation and super-specialisation. There is no holistic view of the patient’s physical condition and the psychological condition is ignored.

                                        

                                      According to a study in the “Outlook” magazine, “With the burgeoning of hospitals,  medical malpractice has grown. Needless surgery is resorted to, in which patients are put through costly invasive procedures they don’t really need. These operations cost anywhere from Rs 10,000/- to Rs.2.5 lakhs and are such that patients can be discharged the same day--biopsy, cataract surgery, gall bladder removal, hysterectomy, even certain types of joint replacement.” This is an ideal book for those who are defeated by the high cost and rigour of allopathic medicine. Homeopathy offers a reliable substitute which is  not costly. According to Dr.Batra Homeopathy is effective, affordable, non-invasive, easily administered and pleasurable to partake. This is book to be kept within easy reach and dipped into to find a cure for our common ailments.

P.P.Ramachandran

Dark Anatomy by Robin Blake

Dark Anatomy—by Robin Blake ;Published by Panmacmilan ; Pages 372  ; Price Rs 350/-

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                                                    Just as Sherlock Holmes made 221 b Baker Street, London known the world over, a certain townhouse in central Preston is making its mark on the literary map. “Cheapside ”, but it certainly rings bells for those who regularly walk the streets of Lancashire’s largest city. Robin Blake, a Preston-born author better known for his biographies of artists, has turned his hand to historical crime fiction and the first of a new series looks set to put both his talents and his old home town centre stage.

                                                       The case currently gripping Preston is the brutal murder of Dolores Brockletower in the grounds of Garlick Hall, a country mansion in the leafy suburb of Fulwood, and as policing barely exists, it’s up to the Coroner Titus Cragg to turn detective. What is unsettling for him  is that no-one at the big house seems to care that the young mistress, daughter of a wealthy West Indian sugar planter, has been found with her throat cut ‘from ear to ear’. Local gossip is awash with rumour and suspicion and there are those that believe the reclusive Dolores was involved in witchcraft and ‘walked with the Devil’. What little evidence there is seems to point in the direction of her husband, Ramilles Brockletower, the local MP and JP who owns a large tract of land, ‘filched from the forest’ claim locals, and is consequently hated by his tenants. Faced with obstruction, corruption and interference, Cragg and his Doctor friend Luke Fidelis must use their own detective skills and a primitive judicial system to track down the killer. Blake conjures up a fascinating portrait of 18th century life full of superb period detail from a map of old Preston on the inside cover to the internal workings of a country house and the Coroner’s dinner of ‘baked marrow and mutton’.

                                                      

                                                This first novel of Blake has the atmosphere of the period and is quite a mystery.  Georgian England is the apotheosis of wickedness and despite witnessing great social and economic reform and upheaval the nation was still rife with superstition, which Blake brings out well. Old fears and superstitions still abound but this is the Age of the Enlightenment when a new kind of rational thought process is taking root and forensic science is on the cusp of playing a key role in crime investigation.

                                                With no formal law enforcement in place, it is left to  Cragg and  Fidelis, to discover the truth. The story is told through Cragg’s dry-witted narrative and recounts the duo’s investigations into the murder and subsequent affairs. Fidelis is cheerfully irreverent though fundamentally Catholic in his beliefs, which plays off well against Cragg’s Anglican pragmatism. The ambitious and headstrong young doctor Luke Fidelis bases his  discoveries  on science rather than irrational judgment often take the cautious Coroner to the most unexpected corners of enquiry.

                                         We have a “ whodunit ” without a police procedural, a rarity in the genre. The historical facts are interesting and quite authentic; the story is an enchanting one and Blake’s treatment of rural folklore and archaic beliefs is masterly, and is particularly macabre in the final chapter.

                                      Blake’s prose is fluid, smooth, engrossing and very easy to read. He has managed to keep the formality of the era without making it sound like another language and he ever so slightly bent some aspects of custom to make it a little easier to connect to. Blake also succeeds in describing the difference between the classes simply by the way they speak. The way the characters talk you know exactly the place they occupied in society. Blake sets the scene for future novels as “A Dark Anatomy” is the first of a trilogy. Not only that, but in the era before computers, high tech analysis, DNA and finger printing murder investigations were not as straight forward. It is really amazing that any crime was solved at all! After the second death, however, everything seems to unfold swiftly. The ending is very interesting and the solution something one does not envisage.

                                   Blake  has  created an excellent double act in Cragg and Fidelis, two men of conflicting character and methodology, motivated by a strong sense of justice and some friendly rivalry, but both strong-willed, clever and determined to seek out the truth wherever it leads. Robin Blake’s story is historically informed, crisply written and has all the qualities of a classic detective novel and introduces the reader to a new detective from the past.

P.P.Ramachandran

Monetary Governance by Dr.A.Vasudevan ;Published by Academic Foundation ;  Pages 127;Price Rs.695/-

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                                           Dr.Vasudevan is Adviser on monetary policy to the Central Bank of Nigeria. He held exalted positions in I M F  and had served in Reserve Bank of India in several capacities, including that of Executive Director. His book

   “ Central Banking for Emerging Market Economies ” is considered to be  the Bible for Central Bankers. He is a prolific writer and imparted a new shape, colour and content to the earlier drab R B I publications, like the Monthly Bulletins and several other Reports.

                                          The book under review tackles the problem of relevance of the role of money and banking, especially in the context of the global crisis that hit the economic world like a Tsunami. The author deals thoroughly with the challenges to governance of central banking ably assisted by his deep experience, thorough theoretical mastery combined with expertise in public policy in India, Nigeria and other nations and International organizations.

                                             In his Introduction, the Governor of the Central Bank of Nigeria, Sanusi Lamido Sanusi writes. “His vast wealth of knowledge garnered from his days as a central bank researcher-cum-academic in India and Adviser to the Executive Director for India at the I M F  has been brought to bear in this veritable information book, in lucid style and with remarkable clarity of thinking”,

                                             Monetary governance deals with governance through sound economic policy just as political governance deals with political aspects of society. It has national as well as international dimensions. They both interact in the globalised world of economic business as well as ideas.   

                                               The discussions in G-20 led to the recognition of the idea of working out mechanisms that would bring out a standardized financial discipline the world over. The Financial Stability Board recommended International Standards and Codes in 12 areas. These have been accepted by the G-20 and the Multi-lateral Financial Institutions. The events leading to the global financial and economic crisis beginning with the middle of 2007 show that complacency together with the absence of thorough and regular monitoring of market place realities has been at the heart of the matter. The  crisis  opened a window of opportunity for Governments and Central Bankers to search for new space for policies and their implementation to promote national interests without jeopardizing  the interests of the rest of the world.

                                              This brief book has six chapters. The first chapter is devoted to explain the meaning of the term “ Monetary Governance”. It consists of international institutions and processes required for functioning of the tasks devolving on Central Banks and Governments to achieve specific objectives. Chapter Two deals with the institutional requirements –the institutional bodies that ensure growth,  price stability and improved income and wealth and finally distribution and promotion of human development. The architecture of monetary governance should ensure co-ordination of actions of Governments and Central Banks. The next chapter’s analysis is concerned with Governments and Central banks and Commercial Banks, Pension Fund Management Entities, Foreign Exchange Dealers and Operators, Mutual Funds, other Brokers. We have a cogent review of the functions of the Central Bank and the other players listed above. The economist calls for a thorough screening of all financial innovative products . The fourth chapter is dedicated to analytics and the international dimensions of monetary governance in detail from the point of view of emerging economies. What is imperative is good analytical framework of both fiscal and monetary authorities. The fifth chapter is about international dimension-- to the extent the major multi-lateral institutions represent the financial arm of international diplomacy-- the  IMF and the World Bank get involved. This is indicated by the high level of participation by Heads of States and Finance Ministers in G-20 meetings.There is a succinct analysis of the I M F and the World Bank and their important committees. The Development Committee has 26 members and deals with issues of development and transfer of financial resources, trade and global environment issues.

                                                Existing multi-lateral institutions and their operations, bye-laws and rules need to be reformed and a number of issues have to be resolved. Industrially emerging economies have to be committed to ensure that the financial and economic imbalances do not recur. International institutions should co-ordinate their activities for the common good across countries. The final chapter emphasizes that it has become imperative to ensure that both the domestic and international organizations, banks and other financial institutions are closely screened and regulated along with the setting up of sound supervisory systems. Sound monetary governance, with strong political commitment will act as a light at the end of the tunnel.

                                                 The volume is studded with copious references and is compulsory reading for all those connected with monetary policy and financial regulations, planners, economists, bankers and all students of banking.

P.P.Ramachandran

 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/-                                         ********************* 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

Festschrift to Dr. C.Rangarajan

Growth and Finance--Essays in honour of C.Rangarajan ; Edited by Sameer Kochhar ; Published by Academic Foundation ; Pages 351; Price Rs 1095/-

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The book under review is a festschrift in honour of Dr.C.Rangarajan There are 16 essays by 20 eminent authorities on banking,finance, management and public administration. In a preface the Home Minister Shri.P.Chidambaram writes ,"Today ,there is no one I know of who is more sought after, more often consulted, more dependable.more impartial,more neutral ,and more valuable in the advice he gives as far as economic policy matters are concerned than Dr. Rangarajan....I think it (this book) is a remarkable tribute not only to a very fine intellectual but also a very fine human being". A lot of what we take for granted today--for example ATMs, Credit Cards--are attributable to the financial reforms that Dr.Rangrajan broght about as Governor of R B I.

In a Foreword ,Dr.Manmohan Singh pays rich tribute to Dr Rangarajan. Dr.Rangarajan has taught at Wharton School of Finance and Commerce, Graduate School of Business Administration in New York and I I M Ahmedabad. He was Member of the Planning Commission, Deputy Governor and later Governor of Reserve Bank of India,Governor of Andhra Pradesh, Chairman of the Twelfth Finance Commission and is presently Chairman of the Prime Minister's Economic Advisory Council. We have a pithy assessment of Dr.Rangarajan by one of his successors Governor Subbarao,who has unarguably asserted--"Dr.Rangarajan.. straddled both academia and the government. What makes him unique though is the way he constructively blended what are two disparate worlds. He brought deep scholarship over a range of academic disciplines to bear on public policy...He remained deeply sensitive to real life concerns. It is this unique trait that has set him apart as one of today's most credible thinkers and advisers. Fittingly, a critic labelled him as "philosopher king"'

The sixteen essays in this volume are esentially a labour of love, affection and admiration for Dr. Rangarajan. The volume has a true head start with an unusual anecdotal history of the tumultuous times during 1982--1997 by Shri. S.S.Tarapore, who rightly mourns that in India anecdotal history is neglected as senior officials generally do not maintain personal diaries.He has presented a fascinating account of how battles were fought, policies were fashioned out after heated debates and recounts the genesis of crucial decisions made during that period.Subjects tackled included B O P crisis of 1990-91,Devaluation of Rupee,

J P C Committee.Tarapore brings out vividly how Dr.Rangarajan encouraged those working under him to articulate views diametrically opposed to his own view. According to Tarapore,"Generations to come will scarce believe that Plato's "Philosopher King" walked the corridors of the Reserve Bank in flesh and blood." One devoutly wishes that Shri.Tarapore writes the anecdotal history of the Reserve Bank during its first 75 years.

Dr.Subbarao, the Governor of R B I has analysed the ills that plague the banking system and how we should ensure that banking takes steps to evolve, grow and innovate in response to the developments in financial markets and institutions.Banking secotor in India has four challenges it has to meet head on--deepening financial inclusion, financing infrastructure, strengthening risk management and improving efficiency.Facing these challenges is sure to make banking exciting.

The essay by Kanagasabhapathy and Radhakrishnan focuses on the mainstream views on transparency and autonomy in the formulation and conduct of monetary policy, including those out of the IMF Code. It calls for exploring the possiblity of extending the management concept of 'Johari Window' to transparency in public policies with particular reference to monetary policy.

Joseph Massey emphasises the importance of financial services in developing growth, employment generation. capital allocation, savings, wealth distribution and risk management.Financial inclusion is the process of ensuring access to financial services and timely and adequate credit provision. The author has commended the efforts of RBI to increase financial literacy

Shyamala Gopinath pays tribute to Dr, Rangarajan, recalling her indebtedness to him.She recounts his role in steering the country out of the crisis of the early 1990s and laying down the foundation of the subsequent policy framework, which put the economy on a robust and reslient growth. Her essay on a macroprudential approach to regulation reveals that many ideas were originated by Dr,Rangarajan.

Other eminent writers are Y.V.Reddy, K.C.Chakrabarty, Ravi Narain, Kirit Parekh and others.Due to space constraints it is not possible to deal with all the essays in this volume but reading this volume will make amply clear the giant role by Dr.Rangarajan in several fields of Indian economy.The volume, which has been brought out by the Skoch Group is edited by Sameer Kochhar, the Chairman. He is the President of Skoch Development Foundation which is our country's leader as think-tank on social and financial matters. We owe a deep debt to Sammer Kochhar and Academic Foundation in bringing out this valuable festschrift by a number of authorities in several fields. No better tribute to Dr. Rangarajan is possible.The book is warmly commended to all economists, bankers, administrators, planners and students of economics and banking.

P.P.Ramachandran

29-05-2011