'FM be like Manmohan Singh': Why PM Rao's pick thrilled Montek Ahluwalia
India TodayJune 21, 1991 was going to be a hectic day. Others called for the meeting by prime minister Rao included Montek Singh Ahluwalia, secretary at the ministry of finance; cabinet secretary Naresh Chandra; finance secretary S.P Shukla and chief economic advisor Deepak Nayyar. He had joined the Union government as an economic advisor in the commerce ministry in 1971, was appointed chief economic advisor in the finance ministry in 1972, was governor of the Reserve Bank of India from 1982 to 1985, and deputy chairman of the Planning Commission between 1985 and 1987, before taking charge as secretary general of the South Commission in Geneva in 1987. Singh had been appointed as chairman of the University Grants Commission and was economic advisor to the former prime minister Chandra Shekhar. “That’s when I first realised that Manmohan Singh would be the new finance minister!” recalls Ahluwalia in his book Backstage: The Story Behind India’s High Growth Years.