The then Congress Prime Minister Narsimha Rao called Finance Minister Manmohan Singh and asked how much money is there in the treasury. Manmohan Singh said, very little to enable us to run the country for about 9 days only.
Narasimha Rao got tensed and asked how to deal with this situation? Manmohan Singh said that the value of the country's rupee should have to fall by 20%. Narasimha ji said, okay call the cabinet meeting and we will seek approval.
To which Manmohan ji said, if we arrange cabinet meeting, we will not be able to take these tough decisions. All ministers will address the vote bank and won't agree to it. So as the PM, you have to take this critical decision.
Narasimha ji paused for a while and asked Manmohan ji to leave. Manmohan ji went to his office. After about 20 minutes, the PM's secretary went to Manmohan ji and handed over a letter. In that letter Narasimha Rao Ji had written, "Done"!
Manmohan ji got surprised, how could the PM gather the courage to say Yes even without getting nod of cabinet ministers? That could upset many top leaders of Congress. He rushed to PM's office again and asked what happened within these 20 minutes that led you to say yes?
Narasimha ji said, it was quite easy. I just spoke to the opposition leader, Atal Bihari Bajpai ji, and he said Yes.
Manmohan ji asked, does that mean you look at Atal ji more than your own cabinet? Narasimha ji had said, I know he is the only person who will speak in the interest of the country.
It happens that after the announcement of this drastic decision to firefight bankruptcy, the Atal ji led opposition team never organized a protest movement, but supported the government to bring the country's economy back on track.
Gone those Politicians, gone those days..
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