The PM's list

Explore Business Standard

| What distinguishes this year's list is the indelible stamp of the Prime Minister himself""many economists and academics have made it to the list, signalling that devotion to academic excellence is finally being rewarded. At the top of the list, among those who have been given the highest Padma award (the Padma Vibhushan) is Raja Chelliah, who is recognised by most informed observers as the principal architect of India's tax reforms, beginning with his work for the Jha committee on indirect taxes in 1978, following it with his taxation reform reports in the early 1990s, and culminating in his serving as an advisor to the finance minister for Budget formulation. It is testimony to Dr Chelliah's foresight and detailed work that finance ministers from the mid-1980s have relied on his work to set the broad direction of tax reform. It also speaks of Dr Chelliah's commitment to the country that, at a time when many other leading economists chose to wander off to other shores or greener pastures, he chose to come back from the International Monetary Fund in 1976 and set up the National Institute of Public Finance and Policy. The country should rightly be grateful to Dr Chelliah for giving it a sensible tax system, far removed from the abominations of the 1960s and 1970s. |
| Other economists honoured this year include the redoubtable TN Srinivasan of Yale, and (more questionably) Jeffrey Sachs""who has had little to do with India and whose record as an advisor on reforms in some of the transition economies (most notably Russia) is controversial. Jagdish Bhagwati, whose work on trade is seminal, is a surprising omission""but that is the problem with all such lists. He might take comfort in the thought that his jurist brother has been honoured. |
| Business people too have been honoured in fair number. The presence of the PepsiCo chief is recognition of her achievement in breaking through two glass barriers at the same time, and is also a bow to non-resident Indians. Choosing Suzuki chief Osamu Suzuki is appropriate, given how Maruti has changed the face of the country's car industry""and signals a new level of welcome for foreign businessmen who make a commitment to India. And Sunil Bharti Mittal's inclusion in the list of Padma Bhushan list is self-explanatory, since he is among the most successful of the new generation of businessmen and has played no small role in extending the reach of telecommunications. |
First Published: Jan 30 2007 | 12:00 AM IST