NEW DELHI: Manmohan Singh will continue as the country’s Finance Minister Prime Minister Narasimha Rao last week refused to accept his resignation ending a week-long suspense during which almost the entire nation rallied behind Singh.
Rao sent him a letter communicating his decision Singh resigned on Dec.23 two days after the Joint Parliamentary Committee UPC) on securities scam submitted its report to Parliament. Singh was stung by certain uncharitable remarks contained in the report about him and his ministry and put in his papers owing ministerial responsibility. Although many ministries and departments came for criticism Singh was the only one who sent in his resignation Sources say this embarrassed the Prime Minister who was not prepared for such a development.
According to sources close to the Finance Minister Singh was keen to quit till he met the Prime Minister on Jan.3. Rao told him how hurt he was at Singhs decision 10 quit. He urged him to give up the thought of quitting and to go back on north Block Singh went to his office last week and met his senior officials. Prime Minister also told him about the Government decision to field him to reply to the debate on the JPC report in Parliament The entire industrial community financial institutions and international business community pleaded with Prime Minister not to accept Singhs resignation The Congress party realized how suicidal it would be to allow such a popular Finance Minister to go. With Prime Minister rejecting Singhs resignation the other two ministers B. Shankar an and Rameswar Thakur who have been indicted by the JPC report will not be asked to resign This was confirmed by the party spokesman VN Gadgil.
Article extracted from this publication >> January 7, 1994
