'Tough decisions taken in interest of people'

Pranab says criticism and appreciation remind him of his duties

PTI | June 26, 2012



Pranab Mukherjee, who resigned as the Finance Minister on Tuesday to contest for the post of President as a Congress nominee, sought to justify some of his tough and contentious decisions saying that they were taken in the interest of people.

"I know that not every decision which I have taken might have been right. But I have taken those decisions keeping in view the interest of the people whose faces appeared before me more than often," Mukherjee said before demitting his office in North Block.

After a three-year tenure, Mukherjee demits office at a time when investors have hit a sour note on India due to a number of controversial policies like GAAR and retrospective amendment to tax laws. His leaving office is also marked by yawning current account deficit, rupee at all-time low and a plummeting economic growth rate.

His tenure also coincided with the world economic crisis in 2008 and again the renewed prospects of a slowdown in 2012.

Mukherjee, who received both bouquet and brickbats for his decisions, said criticism and appreciation reminded him of his duties.

"Members of the media, friends like you, have always reminded me my responsibility most of time through your criticism, sometimes through your appreciation, what I should do as a representative of the people," he said.

"I hope these duties you will continue so long I am in public life," he said.

Mukherjee tendered his resignation to Prime Minister Manmohan Singh and would now campaign for the Presidential polls scheduled on July 19. The 77-year old leader will file his nomination for the highest post in the country on June 28.

As a Finance Minister he had to steer the economy out of the crisis and also brought in new taxation proposals, including retrospective amendment and introduction ofGeneral Anti Avoidance Rules (GAAR), which have generated wide spread criticism and concerns of slowing foreign investment.

While the economic growth rate in 2011-12 slipped to a nine-year low of 6.5 per cent, current account deficit (CAD) touched a high of 4 per cent.

Besides, a sliding rupee, which has reached a historic low of 57.97 against a dollar, has added to Mukherjee's woes.

In his last message as Finance Minister to the media, a sentimental Mukherjee said he is leaving his job to "embark on a new journey".

"Yet, standing on the brink of such an honour, I will also feel a pinch of sentiments at the thought of leaving behind my life as a political activist, spanning over four decades," he told reporters covering him regularly in his North Block office.

He said he felt honoured and humbled on his nomination as a candidate to contest in the Presidential election by UPA-II, supported by SP, BSP, JDU, Shiv Sena, CPI-M, Forward Bloc and some other parties.

He said he would miss "not being stopped by media persons while getting into car or coming out of his car in front of his office in North Block".

Mukherjee has always been obliging to media-persons waiting for comments outside his office on various issues plaguing the economy, and sometimes on politics.

Rarely did he disappoint reporters by not offering comments. Earlier in the day, he even asked media persons not to torture themselves standing in the scorching sun for his remarks.

Comments

 

Other News

UPI completes 10 years of digital payments revolution

The Unified Payments Interface (UPI), launched on August 25, 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI), has completed 10 years of transforming digital payments in India. UPI has emerged as the backbone of India’s digi

Here’s an I.D.E.A. for career growth and success

Success in today’s professional organisation is no longer solely determined by academic qualifications, technical expertise or years of experience. While these attributes do matter, organisations increasingly value individuals who demonstrate the right mindset and behavioural qualities. The ability

PM interacts with CEOs, founders of space startups

Prime minister Narendra Modi interacted with CEOs and Founders of 20 Space Startups at Seva Teerth on Friday.   CEOs of leading companies in the space sector working in diverse fields ranging from building rockets and reusable semi-cryogenic launch vehicles, avionics, satelli

From one cow to a dairy business

In 2012, Anita Dash wasn`t dreaming of building a dairy brand. She wasn`t studying business models or planning market expansion. Like countless mothers across India, her focus was on something much simpler: giving her children a better future.   At the time, her most valuable

Ethanol blending: The two sides of a story

India`s crude oil consumption is estimated to be around 88.5% imported from abroad. This one single figure is also responsible for why ethanol has become both an economic strategy and fuel policy at the same time. In an economy like India, which depends so heavily on foreign oil, any increase in internat

Food inflation: Not a macroeconomic statistic but a developmental indicator

India`s retail inflation shows a reassuring picture at first glance. According to the latest data, Consumer Price Index (CPI) inflation edged up to 4.38% in June 2026 from 3.93% in May 2026, but continued to remain within the Reserve Bank of India`s (RBI) target band of 4% (+/- 2%). However, beneath this

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter