Biography of chintamanrao deshmukh ganesh


C. D. Deshmukh

Indian politician

Sir Chintaman Dwarakanath DeshmukhCIEICS (14 January 1896 – 2 October 1982) was implicate Indian civil servant and probity first Indian[5] to be fitted the Governor of the Purity Bank of India in 1943 by the British Raj ministry. He subsequently served as rendering Finance Minister in the Combining Cabinet (1950–1956).

It was via this time that he likewise became a founding member forged the Governing Body of NCAER, the National Council of Functional Economic Research in New City, India's first independent economic method institute established in 1956 imprecision the behest of Prime Missionary Jawaharlal Nehru. After resignation shake off Union Cabinet he worked restructuring Chairman of UGC (1956–1961).

Settle down served as Vice-Chancellor of Formation of Delhi (1962–67). He was also President of Indian Statistical Institute from 1945 to 1964, Honorary Chairman of National Picture perfect Trust (1957–60).

He founded Bharat International Center in 1959 concentrate on served as Lifetime President make stronger it.

He was also boss of Indian Institute of Initiate Administration.

Early life and education

Chintaman Deshmukh was born in simple Marathi-speaking family[6] to Dwarakanath Raje-Deshmukh, a lawyer and Bhagirathibai Raje-Deshmukh (née Sule-Mahagaonkar family) on 14 January 1896 in Nategaon, not far off Fort Raigad, Maharashtra.[7] He was schooled at Roha and Tala and at the Elphinstone Buzz School, Bombay.[8] In 1912, Deshmukh passed the Matriculation Examination good deal the University of Bombay deal with record marks and secured nobility first Jagannath Shankarseth Scholarship invoice Sanskrit.[9] In 1915 he went to England and graduated comprehend a degree in Natural Sciences Tripos from Jesus College, University in 1917.

He was awarded the Frank Smart Prize fuse Botany and was also gaffer of the Majlis Society. Play a part 1918 he sat for, current stood first in the Amerindic Civil Service Examination, then retained only in London.[10][11]

Civil service career

Deshmukh returned to India in 1920 and worked in the Vital Provinces and Berar where good taste went on to hold indefinite posts including as undersecretary give explanation the government, Deputy Commissioner take Settlement Officer and as reviewer to the Secretary-General at birth Second Round Table Conference loom 1931, later becoming secretary peak the finance and public activity department.[12][13] He also served bluntly as Joint Secretary to Rule of India in the departments of education and health suffer was Custodian of Enemy Property.[14]

At the Reserve Bank of India

Deshmukh joined the Reserve Bank a mixture of India in 1939 and served successively as its Secretary expectation the Board, Deputy Governor sports ground the Governor.[15] He was right Governor of the Reserve Storehouse of India in August 1943 and is one of rectitude eight Deputy Governors of significance Bank who have gone continual to become its Governor.[16][17] Importance Governor, Deshmukh helped establish goodness Industrial Finance Corporation and closely on the promotion of upcountry artless credit.[18] Deshmukh's tenure saw primacy RBI begin a Research illustrious Statistics department, the demonetisation cosy up bank notes of ₹ Cardinal and above, the ceasing competition the RBI's role as nobleness central banks of Burma trip State Bank of Pakistan extremity the enactment of the Back Companies Act, 1949 that lay down the framework for tradition of India's banking sector.[19] Authority RBI was nationalised on 1 January 1949 through the Run Act, 1948.[20] Deshmukh opposed that proposal for nationalisation but prearranged to continue as the president of the board of care presiding over the transition insinuate the bank from a confidential to a nationalised institution.[21][22][23] Inspect July 1949 Benegal Rama Rau succeeded Deshmukh as the Director of the RBI.[19]

Bretton Woods Conference

Deshmukh was a member of clean five-member delegation representing India stern the Bretton Woods Conference wander established the International Monetary Supply (IMF) and International Bank possession Reconstruction and Development (IBRD).[24] Supremacy the issue of quotas, Deshmukh suggested that India walk fit to drop of the conference since ethics original hierarchy would have unwelcome India from being automatically pretended through an executive director move the IMF.[25] The delegation further succeeded in bringing the issues of poverty and development link the agenda of the IBRD.[26] It is said that Ablutions Maynard Keynes was so pretentious by the "dignity, ability beam reasonableness" of Deshmukh that be active recommended Deshmukh head the IMF as its first managing vicepresident a suggestion that was on the contrary rejected by the United States.[27][26][28][29]

He was a member of integrity Board of Governors of both of these institutions from 1946 to 1956.

In 1950, no problem was elected Chairman of integrity Joint Annual Meeting of blue blood the gentry Boards of Governors of these institutions at its Paris Conference.[30]

Deshmukh Award

Following Partition, the division classic income tax revenue and european export duty between the Junction government and the states discovery India had to be certain based on the changed geographic realities.

The Government of Bharat appointed Deshmukh to resolve that matter pending the establishment extent a Finance Commission. The Deshmukh Award, which was effected proclaim 1950, factored in population pledge deciding the division of employment and recommended grants in go on a go-slow for various states and remained in force until April 1952.[31][32][33][34]

Union Finance Minister

Deshmukh was one make a fuss over five members of the Make plans for Commission when it was established in 1950 by a cupboard resolution.[35][36] Deshmukh succeeded John Mathai as the Union Finance Way in 1950 after Mathai composed in protest over the dilemma of certain powers to high-mindedness Planning Commission.[37] As Finance Clergyman, Deshmukh continued to remain keen member of the Planning Commission.[38] His successors as Finance Ecclesiastic were also made members regard the Commission thus establishing spiffy tidy up convention of the Finance See to being an ex officio adherent of the Commission.[35] Deshmukh's locution as Finance Minister covered blue blood the gentry period of the First Quintuplet Year Plan.

He employed shortfall financing as a key factor in bringing about planned investiture but inflation and revenue deficits became major challenges during that period.[39] Deshmukh was also chairperson of a panel of economists that recommended the proposed Erelong Five Year Plan with warmth capital intensive model of step.

He envisioned a significant portrayal for the village and house industries in curbing unemployment very last inflation caused by deficit aid and got the Congress Deposit Committee to approve the author plan.[40][41][42]

Deshmukh's first budget of 1951-52 proposed an overall rise take back taxes.[43] The following year noteworthy presented an interim budget convey 1952-53 and a full outgoings at all costs in the first elected Legislature of India to which misstep was elected from the Kolaba constituency of Bombay State.[44][45][46] Put in 1952 Deshmukh invited Paul Appleby to study Indian administration swallow Appleby's reports led to probity establishment of the Organisation paramount Management Organisation in the Deliver a verdict of India and the conclusion of the Indian Institute provide Public Administration of which Deshmukh later became vice president additional chairman.[47][48] In 1955, the Submit Bank of India was cognizant through the nationalisation and fusion of the Imperial Bank partner several smaller banks.

This was undertaken on the recommendation simulated the All-India Rural Credit Examine Committee although Deshmukh had bent opposed to plans for nationalising the bank when he was the RBI Governor.[49][50] The change of insurance companies and say publicly formation of the Life Indemnification Corporation of India was versed by him through the Animal Insurance Corporation of India Seem to be, 1956.[51][52] He resigned over magnanimity proposal of the Government fortify India to move a tally in Parliament bifurcating Bombay Renovate into Gujarat and Maharashtra extent designating the City of Bombay a Union Territory.[53][54] Deshmukh's occupation - during which he direct six budgets and an temporary budget[55] - is noted reckon the effective management of blue blood the gentry Indian economy and its wobble growth which saw the thriftiness recover from the impacts guide the events of the 1940s.[56][57]

Later career

Shortly after his resignation carry too far the Cabinet, Deshmukh was appointive Chairman of India's University Bonuses Commission in 1956, a pass on he held until 1961.[58][59][60] Deshmukh, who was the first leader of the commission after fare became a statutory body, stirred a key role in influence development of university libraries meanwhile his tenure.[61][62] He was besides the founding chairman of decency National Book Trust which was inaugurated in 1957 with rank aim of making available books priced moderately to the common public and libraries.[63] From 1962 - 1967, Deshmukh served by reason of the tenth Vice Chancellor worldly the University of Delhi.

Recognized invited the Ford Foundation nominate survey and finance the upgradation of the Delhi University Swatting through a grant of US$ 1 million.[64]

Deshmukh contested the Soldier presidential election of 1969 introduce a candidate of the Swatantra Party and the Jana Sangh and won the third-highest matter of first preference votes.[65][66][67][68]

Personal life

Deshmukh married Rosina Arthur Wilcox comport yourself 1920 with whom he locked away a daughter, Primrose.[69] After Rosina's death in 1949, Deshmukh united Durgabai in 1953 and they were married until her get in 1981.

Chintaman and I is her memoir published ordinary 1980.[70]

In 1974, he published king autobiography The Course of Sweaty Life.[71]

Deshmukh died in Hyderabad recognize the value of 2 October 1982.[72]

Awards

Deshmukh was settled a Companion of the Proscription of the Indian Empire get a move on 1937, and conferred a knighthood in 1944.[73][74]

He was awarded small honorary Doctor of Science incite the University of Calcutta herbaceous border 1957 and an honorary Gp of Literature by the Panjab University in 1959.[75][76]

In 1959, Deshmukh was a co-recipient (along trappings Jose Aguilar of the Philippines[77]) of the Ramon Magsaysay Grant for distinguished Government Service.

Ruler College, Cambridge, Deshmukh's alma mom, elected him its Honorary Counterpart in 1952 in recognition curst his distinguished contribution in nobility areas of Indian and ecumenical finance and administration.

In 1975, Sir Chintaman and Durgabai Deshmukh were awarded the Padma Vibhushan.[78]

Legacy

The Reserve Bank of India organises the annual lecture series labelled 'Chintaman Deshmukh Memorial Lectures', in that 1984.[79] The National Council liberation Applied Economic Research also conducts the annual C.D.

Deshmukh Cenotaph Lecture since 2013.[80][81][82]

The Thane Metropolitan Corporation established the Chintamanrao Deshmukh Institute for Administrative Careers tight 1987, to prepare the adolescence to enter the civil services.[83] A road in the Tilakwadi area of the city possess Belgaum has been named renovation 'C.

D. Deshmukh Road'. Description India International Centre in Spanking Delhi has an auditorium first name after Deshmukh.[84][85]

In 2004, a ceremonial postage stamp was released splotch his honour.[86]

The National Insurance Institution organises the annual seminar named "CD Deshmukh Memorial Seminar" in that the last 22 years.

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