FOR FAVOUR OF PUBLICATION

Summary

This one-page Swatantra Party Parliamentary Office press communication, dated June 22, 1966, reports a meeting between Prof. N. G. Ranga and M. R. Masani, the party’s parliamentary leader and deputy leader, and Prime Minister Indira Gandhi. The meeting concerned the implications of devaluation and a note proposing both long-term policies and immediate relief measures so that the sacrifices involved would not be wasted and the policy’s corrective effects could operate fully.

Ranga urged the government to set an example through fiscal discipline and argued that the government, as then constituted, lacked the public confidence needed to implement the proposed measures. He called on the Prime Minister to consider steps to take the country out of its present plight. Gandhi explained the circumstances that had made devaluation necessary and promised to give careful consideration to the policies placed before her. The sheet is an office-issued communication marked both “FOR FAVOUR OF PUBLICATION” and “NOT TO BE PUBLISHED.”

Key points

• The document reports a meeting between Swatantra Party parliamentary leaders N. G. Ranga and M. R. Masani and Prime Minister Indira Gandhi.
• The central subject was the implications of currency devaluation.
• The party submitted measures intended to preserve devaluation’s corrective effects and prevent its sacrifices from being wasted.
• The proposed measures included long-term policies and immediate relief.
• Ranga called for fiscal discipline and for the government to set an example to the public.
• Ranga questioned whether the existing government had sufficient public confidence to implement the measures.
• Indira Gandhi explained why devaluation had become necessary and promised to consider the submitted policies.