TO THE BRINK AND BACK

book excerpt …after a decision
had been taken to devalue the indian rupee, manmohan singh had written to
narasimha rao. he was worried that his personal rupee balance, born out of
modest dollar savings, would swell. he informed rao that the ‘windfall’ gains
would be deposited in the prime minister’s relief fund. was india’s ‘greece
moment’. it faced an unprecedented financial crisis against the backdrop of
political uncertainty and crumbling investor confidence. on 21 june 1991,
p.v. narasimha rao became prime minister and appointed dr manmohan singh as
finance minister. in less than thirtyfive days, the raosingh duo ushered in
momentous changes in economic policy those that transformed the country. to
the brink and back is the first account of the weeks of fastpaced change,
narrated by an insider a key aide of the prime minister, uniquely positioned
both to participate and observe. it carries brisk accounts of the early days
of survival; the compulsions and convictions that propelled a paradigm shift
in india’s economic policy; and the ups and downs, twists and turns in the
saga of fiscal reform. along with the author’s astute insights, the book
holds key documents and notes, placed for the first time in the public
domain; the personal papers of narasimha rao; private conversations with
manmohan singh; parliament proceedings; and the minutes of seminal congress
meetings. coming as it does on the eve of the silver jubilee of india’s
economic liberalization, to the brink and back will appeal not only to
political history enthusiasts but also to those who wish to know how
countries can be led from the brink to a radically new economic future.
features: an insightful and brisk account of the events surrounding the 1991
economic reforms programme coming to light for the first time on the eve of
the silver jubilee of india’s economic liberalization. written by an insider
a key aide to the then prime minister, p.v. narasimha rao. comes with key
documents and notes, placed for the first time in the public domain; the
personal papers of narasimha rao; private conversations with manmohan singh;
parliament proceedings; the minutes of seminal congress meetings; and rare
photographs.