RANAB MUKHERJEE has presented his sixthbudget. He has begun hissixth decade in politics.He’s widely credited with

possessing an administrative sixthsense. He belongs to a group of six vet-eran non-Nehru/Gandhi politicianswho can be considered as the heaviestof heavyweights; the other five beingManmohan Singh, Atal Bihari Vajpay-ee, LK Advani, M Karunanidhi, andJyoti Basu, who died last year.

But Mukherjee is the only politicianin this group of six you would hesitateto call a game changer. What isMukherjee’s signature contribution topolitics and government? Answeringthis question is a struggle. Therefore,the Pranab Paradox: Why is a thor-

oughly intelligent, formidably knowl-edgeable, extremely powerful politi-cian in what is surely the last phase ofhis long career in this position?

You think Manmohan Singh and sig-nature contribution, and you thinkreforms and the nuclear deal. Youthink Vajpayee and you think first sta-ble non-Congress government and for-eign policy breakthroughs. Advani:rath yatra and Hindutva. Basu: thecommunist ‘buy out’ of Bengal.Karunanidhi: refining and immenselystrengthening Annadurai’s Dravidian‘social justice’ politics and Chennaibecoming a political force in Delhi.Pranab Mukherjee …? A new directtaxes code (DTC) and GST?

Had there been a revolutionaryrewrite of the tax text, then that effort,backed by the weight of the rest ofMukherjee’s career, perhaps couldhave solved the Pranab Paradox. Thebudget has announced the date forDTC, April 1, 2012. But note that theversion of DTC that’s circulating now,which Mukherjee referred to, showsmany signs of non-revolutionarychange.

Think of the first draft of the DTC.Compared to that, the current versionhas been compromised by bureaucraticroll backs. The final product, if itbecomes law in April next year, is likelyto be an improvement on the currentrules – it can hardly get worse – but thenew codified DTC is very unlikely tobe a revolutionary rewrite. Mukherjeewill most likely not be remembered asa finance minister who radicallychanged the tax game.

That’s the man. He’s good at finding

pragmatic solutions, at asking sharpquestions of bureaucrats and politicalcolleagues, of doing something smartinside the System. Doing somethingabout the System, that’s not him.

Even on matters inside the System,he’s cautious. Look at the way he men-tioned, during the budget speech, thatbills on insurance, banking, pension,etc will be again put up. That was afairly big announcement —the Con-gress was backing some reformist billsagain. But Mukherjee’s delivery aswell as the text of the budget speech,made every effort to drain all excite-ment out of it. Mukherjee was beingreformist —but you had to listen verycarefully to catch it.

Mukherjee’s selection as financeminister in UPA-2 was in part thanksto the Congress leadership’s comfortfactor with his “pragmatic” approach.

Pragmatism is a good quality. But inCongress view, it also meant someonewho won’t rock the boat, whatever thepossible payoff. Of course, hundreds of Indian politicians, scores of themwith a career as long Mukherjee’s,haven’t been anything close to beinggame changers. But Mukherjee does-n’t belong to that group. He’s part ofa small, select group—that group ofsix— by virtue of his ability, influenceand stature.

Does his being a Congressman foralmost his entire career – he left theCongress for a short while and cameback, as AK Antony did – explain thePranab Paradox? This is an interest-ing question because there’s a gamechanger Congressman, ManmohanSingh, in that group of six.

Is Dr Singh the exception that provesthe rule that it’s tough for non-Nehru/Gandhi Congress leaders, howevercapable, to be true game changers?

Dr Singh was picked in 1991 byNarasimha Rao and in 2004 by SoniaGandhi to be, respectively, finance min-ister and prime minister under cir-cumstances that were almost unique.Minus those circumstances and thebacking Dr Singh received from Raoand Sonia Gandhi, he wouldn’t haveemerged as a game changer. Could it beargued, therefore, that the PranabParadox is explained, at least in part,by Mukherjee being a very smartpolitician who’s had to function underthe Nehru-Gandhis?

But let’s not overstate the Nehru-Gandhi factor. Mukherjee seems con-tent with being an able adviser. A ques-tion often asked by his fans—what ifhe had become PM—is also less rele-vant than it seems. The politicalnature of the man is such that even asthe top boss, he might not have under-taken what Dr Singh did during thepursuit of the nuclear deal. Dr Singhhad to contend with not just fierceOpposition criticism but also noisyintra-party rumbles.

Almost nothing Mukherjee has done,including this budget, has producedrumbles in the Congress. This wasn’t abad budget. It was clever in some ways.But it was risk averse. Although, withgrowth news so good, this was a chancefor him to do something radical. Thebudget was another example of thePranab Paradox.

SAUBHIK CHAKRABARTI

TONGUE-IN-CHEEK

When Madam calls, Iinstinctively standup. Which is how Igot the bump on myhead. She calledwhen I was sittinginside a car ridingfrom North Block toSouth Block

MADAM SAID, “HAVE YOU started making the Budget?” My head spinning in pain, I said,“Yes Madam.” “Please keep the aam aadmi inmind when you make the Bud-get,” she said and clicked off.“Of course Madam, yes I will,” I said.Madam is very fond of the aamaadmi. She always says that theaam aadmi voted us into power.Madam is always correct. I too am very fond of the aam aad-mi. Before this Budget, I want tomeet him to know what he wants. But as you know my schedule isvery busy. And I have to meetmany people before the Budget. During the first meeting wheneveryone sat down, I said, “LookI’m looking for the aam aadmi.Are you the aam aadmi?”“Yes,” said everyone.“Good, what do you want?”“I want zero taxes for all aamaadmi whose incomes are above`20 crore.”“Done, next.”“No taxes on iron.”“Done.”“None on oil, please.”“Done.”“I’d like a port.”“He wants a port? I want an

airport.”“Good, good. Done, next.”“I want some spectrum.”“What’s that?” I asked.“Sir, never mind what. You can’t seeit, you can’t touch it, can I get it?”“You got it. Next.”“I’d like a few mines.”“You got them.”“I’d like interest rates to go downto zero.” “Zero, you got it.”“Could you sell some governmentcompanies to me?”“Sure, why not?”“If you’re selling those compa-nies to him, will you sell me someas well?”“Of course, of course.”“If you don’t mind, I’m a littleshort of cash right now. Somaybe you could loan a few ofthose companies to me for now.I’ll pay you back later. Promise.”“Sure. But why are you short ofcash?”“Sir, the aam aadmi is alwaysshort of cash. And I blew minebuying an airline and a cricketteam.”Everybody around the tablemoaned in sympathy. Me, I don’thave time to watch cricket.“Alright everybody. Is that all?”“Thank you sir, you are so kind,”said everyone and walked out.I turned to my secretary, whoseface had turned a horrible shadeof purple. “What’s the matter, Chakrabarty?Have you got dyspepsia? Herehave some Gelusil. I always keepsome in my drawer.”“Thank you sir,” said Chakrabar-ty, gulping Gelusil, “But what didyou just do?”I felt a warm glow of satisfactioncome over me, “A Budget for aamaadmi. That’s what we’re going tohave this year. Madam will be sohappy.”

ABHEEK BARMAN

Non TaxingUNION BUDGET 2011-2012

20

THE ECONOMIC TIMES | TUESDAY | 1 MARCH 2011

“Doubling the salary of anganwadi workers,more money for education and cashtransfers for the poor, are big positives.Now, you have to implement them well”

SHYAM BENEGALFilm-maker

“The King’s Speech was a solid,hardworking, non-flashy film thatwon 4 Oscars... The FM’s speechcould share the same adjectives”

DEREK O’BRIENQuizmaster & author

flip side

Different FM Tunes

the

Some conversational tweaks, some contrarian tweets, some good-humoured liberties taken while guessing the future,and puzzling over a paradox. Therefore, no numbers, no charts, just some interesting thoughts, funny & serious

Too Cautious?Too Old? Andno Direction?

A Peek At Pranab’s Past Through Pictures

A newly married Pranab Mukherjee with his wife (left); at a meeting with VPSingh (centre); on his way to present one his early budgets (right) —From the book Pranab Mukherjee - The All Season Man by Sukhendu Sekhar Ray

Pranab Paradox:He’s Smart, He’sPowerful, But NeverA Game Changer

SushmaSwarajBJP

It is a conservative Budget. The Budget does

not reflect a big thought. Only a ritualhas been performed

narendramodi

UPA Government’s budget is an attempt to

conceal its all round failures and directionless governance

kiranshaw

A "play it safe" budget withno bold reforms announced

bibekdebroy

This is country's 80thbudget. Budget is old

now. Time to die, as an institution. Andhype...Who is being helped by reduc-ing senior citizen threshold to 60? Whyis very senior citizen 80?

chetan_bhagat

Budget Simplified: What-ever squeezed from loser

taxpayers - whatever we can steal -subsidies to keep vote bank=deficit

Budget analysis at its shortest.A sampling of tweets criticalof FM’s effort or budget hype in general. From BJPpoliticians, industry leaders,economists and writers

What the AamAadmi Wants, theAam Aadmi Gets

SALAM

B U D G E T T W E E T S

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_______ourselves to bring Smite on the face of every Indian.

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