634. The Finance Minister

When People's Welfare Party (PWP) won the elections and was set to form the government, there was a lot of interest among various sections of the people including the media, political commentators, economists and the general public at large about who was going to be made the Finance Minister in the new government. Names of a few senior leaders of the party made the rounds.

But, to everyone's surprise, Chief Minister Manickam chose Parankusam, a retired professor of Economics as the Finance Minister.

This decision shocked the senior leaders of the party and led to some heartburning. However, they chose to keep quiet, since they did not have the courage to ask the Chief Minister.

Six months passed, since the PWP government had assumed office.

Chief Minister Manickam, who was also the President of the party, convened a meeting of the Executive Committee of the party. Finance Minister Panakusam, though not a member of the party, participated in the party, as a special invitee. 

The Chief Minister spoke:

"I know that many of you were surprised and shocked by my appointing a person who had not been a member of our party as the Finance Minister. All of you are aware to what extent the economy of our state had been ruined by the party that was holding the reins earlier. I strongly believed that we needed a professional, an expert, to retrieve the economy from the pit it had fallen and make it healthy. It was also imperative that the economy could be put back on rails, only if the person managing the Finance portfolio took steps purely from the perspective of Economics, keeping political considerations aside. That was the reason for my choosing Mr. Parankusam, an Economist with no political background, for the job.

"During the last six months, the Finance Minister has taken several decisions and implemented measures for reviving the economy. Some of his decisions and actions might not have been to your liking. You may pose your questions to him."

"Sir! Soon after coming to power, we have raised a few taxes. People are unhappy with us for these raises" said a senior leader.

"Further, we have not implemented many schemes we had promised in our election manifesto. In the television debates, our party spokespersons have a tough time answering the questions raised about this issue" remarked another.

"Even a minister like me has been unable to answer the questions about our electoral promises, posed to me, when I visit my constituency" said a minister.

"The Finance Minister will answer your questions" said the Chief Minister, smiling.

Parankusam hesitated for a moment and then said, "While entrusting me with the responsibility of managing the Finance portfolio of the government, the Chief Minister told me, 'You should set right the economic situation of the state, acting the way you would, if the economy of your family were in a bad shape.' After studying the state of the economy, I told the Chief Minister, 'Sir! The revenue deficit has been increasing. Because of it, the borrowings have increased. The interest on the borrowings has been making the revenue deficit go up still further. If this situation has to be rectified, we should increase the revenue on the one side and reduce the expenditure on the other side. We will be able to take up new schemes only after bringing down the revenue deficit to zero.' The Chief Minister accepted my diagnosis and my action plan to revive the economy. Accordingly, I have implemented some measures."

"You make it sound so simple. How are we going to explain these to the people and make them understand?" asked a minister.

When Parankusam tried to answer him, the Chief Minister said, "People have given us a tenure of five years to govern. We have five years' time to deliver on our promises. It is quite possible that we will face the discontent of the people during the first two years, because of the unpopular but essential measures implemented by us. If there were to be by-elections, we may lose some or even all of them. But, if we pursue the path of course correction devised by us, with steadfastness, for two years, we will be able to see results in the last two years. At that time, we will be in a position to implement the schemes promised by us. Once people are able to realize that the measures implemented by us have begun to yield results, they will extend their support to us. The points mentioned by the Finance Minister are known to all of us. But, since he was not obliged to consider the political perspective, he was able to look at the economic situation objectively, decide what steps were needed to improve the economy and outline his plan of action to me. I accepted his plan and gave him the freedom to implement the plan the way it should be."

Nobody said anything.  

"We should do one more thing to make people understand that the financial position of the government is bad. We should cut our salaries by half. The amount saved from this step my not be significant. But it will send the right signal to the people." 

The Chief Minister paused and added "Again, it was the Finance Minister, who suggested this step," turning to Parankusam, with a smile.

Thirukkural
Section 2

Materialism

Chapter 64
Being A Minister

Verse 634 (in Tamil):
theridhalum thErndhu seyalum oruthalaiyAch
chollalum valladhu arasu.

Meaning:

The minister is one who is able to comprehend (the whole nature of an undertaking), execute it in the best manner possible, and articulate his views unequivocally. 

(This is the English version of the Tamil story 'nidhi amaichchar' by the same author.) 

Verse 635
Verse 633