Cd deshmukh biography

It is said that John Maynard Keynes was so impressed by the "dignity, ability and reasonableness" of Deshmukh that he recommended Deshmukh head the IMF as its first managing director a suggestion that was however rejected by the United States. The Government of India appointed Deshmukh to resolve this matter pending the establishment of a Finance Commission.

The Deshmukh Award, which was effected in , factored in population in deciding the division of revenue and recommended grants in aid for various states and remained in force until April Deshmukh succeeded John Mathai as the Union Finance Minister in after Mathai resigned in protest over the transfer of certain powers to the Planning Commission.

His successors as Finance Minister were also made members of the Commission thus establishing a convention of the Finance Minister being an ex officio member of the Commission. He employed deficit financing as a key tool in bringing about planned investment but inflation and revenue deficits became major challenges during this period.

Cd deshmukh biography

Deshmukh was also chairman of a panel of economists that recommended the proposed Second Five Year Plan with its capital intensive model of development. He envisioned a significant role for the village and cottage industries in curbing unemployment and inflation caused by deficit financing and got the Congress Working Committee to approve the draft plan.

Deshmukh's first budget of proposed an overall rise in taxes. In he sat for, and stood first in the Indian Civil Service Examination , then held only in London. Deshmukh returned to India in and worked in the Central Provinces and Berar where he went on to hold several posts including as undersecretary to the government, Deputy Commissioner and Settlement Officer and as secretary to the Secretary-General at the Second Round Table Conference of , later becoming secretary to the finance and public works department.

He was a member of the Board of Governors of both of these institutions from to Following Partition, the division of income tax revenue and jute export duty between the Union government and the states of India had to be decided based on the changed geographical realities. The Government of India appointed Deshmukh to resolve this matter pending the establishment of a Finance Commission.

The Deshmukh Award, which was effected in , factored in population in deciding the division of revenue and recommended grants in aid for various states and remained in force until April Deshmukh was one of five members of the Planning Commission when it was constituted in by a cabinet resolution. He employed deficit financing as a key tool in bringing about planned investment but inflation and revenue deficits became major challenges during this period.

He envisioned a significant role for the village and cottage industries in curbing unemployment and inflation caused by deficit financing and got the Congress Working Committee to approve the draft plan. Deshmukh's first budget of proposed an overall rise in taxes. Shortly after his resignation from the Cabinet, Deshmukh was appointed Chairman of India's University Grants Commission in , a post he held until Deshmukh contested the Indian presidential election of as a candidate of the Swatantra Party and the Jana Sangh and won the third-highest number of first preference votes.

Deshmukh married Rosina Arthur Wilcox in with whom he had a daughter, Primrose. Chintaman and I is her memoir published in In , he published his autobiography The Course of My Life. Deshmukh died in Hyderabad on 2 October Deshmukh was appointed a Companion of the Order of the Indian Empire in , and conferred a knighthood in He was awarded an honorary Doctor of Science by the University of Calcutta in and an honorary Doctor of Literature by the Panjab University in Jesus College, Cambridge , Deshmukh's alma mater, elected him its Honorary Fellow in in recognition of his distinguished contribution in the areas of Indian and international finance and administration.

Deshmukh Memorial Lecture since The Thane Municipal Corporation established the Chintamanrao Deshmukh Institute for Administrative Careers in , to prepare the youth to enter the civil services. Deshmukh Road'. In , a commemorative postage stamp was released in his honour. About Us Disclaimer Contact. Don't have an account yet? Register now!

Referral Code. Inexpensive SEO Services. Benefits of Wanting to play Free Online Slot machines. Deshmukh at Palam Airport in Rosina A. Durgabai Gummidithala. Early life and education edit. Civil service career edit. At the Reserve Bank of India edit. Bretton Woods Conference edit. Deshmukh Award edit. Union Finance Minister edit. Later career edit.

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