Sunday 17 June, 2007

FM ‘peddles his thoughts’, draws applause

With his characteristic wit, finance minister P Chidambaram on Friday remarked: “I don’t know if the finance minister is important for Mumbai, but the city is very important for the finance minister.”

However, the long queue for his autograph on the copies of his book, A View From the Outside: Why Good Economics Works for Everyone, at a reading session at Crossword bookstore, gave Mumbai’s view.

Chidambaram said: “I am not here to peddle my book, but my thoughts.” The book is a compilation of his columns, which appeared in The Indian Express and The Financial Express between August 2002 and March 2004, and has gone for its third print in six months.

Chidambaram said, “Educated and working entrepreneurial people need to believe that no country can lift poverty without adopting free economy.” Market-friendly economic policies and people-friendly social policies are also essential for poverty alleviation, he added.

Once he started reading from the book, it became clear why A View From the Outside... has made it to the bestsellers’ list. He chose passages which were humourous, philosophical and serious, before wrapping it up with an emotional one on Rajiv Gandhi.

The crowd in the chock-a-block bookstore applauded and their appreciation was reflected in the statement of writer Shobhaa De, who was one of the panelists for the session. “A good book is like a good marriage. This lucidly-written book has some terrific lines and covers vast territories. Apart from economy, Chidambaram talks about the Kanchi seer, women and children’s issues,” said De, while confessing she had flunked in economics in college.

Shekhar Gupta, Editor-in-chief of The Express Group, said: “The views expressed in Chidambaram’s columns remain unchanged whether he is in power or out of it.” The columns cover subjects such as agriculture, foreign investment, Budget, taxation and international relations.

Describing the book as evocative, ICICI Bank CEO and MD KV Kamath said: “The book shows the minister in a new light. It brings out a new ethos and nuances related to him.”

Kamath also praised the minister for his ability to “balance the books” and initiative to “cut the deficit”. The reading session—held as part of The Express Group’s Book Series initiative to launch books by eminent columnists of The Indian Express and The Financial Express—had Mumbai’s top economists, corporate honchos and culturatti in full attendance.

Among those present were governor of RBI YV Reddy, deputy governors of RBI Shyamala Gopinath and V Leeladhar, Nimesh Kampani of JM Financial, Udayan Bose, chairman of Tamara Capital, UK Sinha, chairman of UTI MF, R Ravimohan, MD and CEO of CRISIL, Mukund Kasliwal of S Kumar Group and Mohandas Pai of Infosys.