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‘Big Man and the lady’: Pranab Mukherjee’s complex legacy in the market-regulatory architecture

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‘Big Man and the lady’: Pranab Mukherjee’s complex legacy in the market-regulatory architecture

When the Jangipur MP was offered the finance portfolio in UPA’s first term, he was reluctant. But North Block was his last stop before moving to Raisina Hill. In a political career spanning five decades, Pranab Mukherjee never had a dull moment.
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nsundareshasubramanian
2 Sep 2020 9 Mins Read 0 comment
Pranab Mukherjee Getty Images
Pranab Mukherjee
Pranab Mukherjee's first stint as India’s finance minister was in Indira Gandhi’s Cabinet between 1982 and 1984. Two decades later, when the Congress-led United Progressive Alliance (UPA) came into power in 2004, Mukherjee became the obvious choice for the coveted post. But the freshly minted member of Parliament (MP) from Jangipur had other ideas. In his autobiography, The Coalition
case and the introduction of general anti-avoidance rules (GAAR) were seen as some of the most unpopular decisions by Mukherjee. The tough relationship he shared with his predecessor in the North Block who would go on to become his successor — and their relentless behind-the-screens sparring — also added to the complex legacy the former Indian president has left behind.
Pranab Mukherjee's first stint as India’s finance minister was in Indira Gandhi’s Cabinet between 1982 and 1984. Two decades later, when the Congress-led United Progressive Alliance (UPA) came into power in 2004, Mukherjee became the obvious choice for the coveted post. But the freshly minted member of Parliament (MP) from Jangipur had other ideas. In his autobiography, The Coalition case and the introduction of general anti-avoidance rules (GAAR) were seen as some of the most unpopular decisions by Mukherjee. The tough relationship he shared with his predecessor in the North Block who would go on to become his successor — and their relentless behind-the-screens sparring — also added to the complex legacy the former Indian president has left behind.

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