Shashi Tharoor Quote
The manipulation of currency, throughout a feature of the colonial enterprise, reached its worst during the Great Depression of 1929–30, when Indian farmers (like those in the North American prairies) grew their grain but discovered no one could afford to buy it. Agricultural prices collapsed, but British tax demands did not; and cruelly, the British decided to restrict India’s money supply, fearing that the devaluation of Indian currency would cause losses to the British from a corresponding decline in the sterling value of their assets in India. So Britain insisted that the Indian rupee stay fixed at 1 shilling sixpence, and obliged the Indian government to take notes and coins out of circulation to keep the exchange rate high. The total amount of cash in circulation in the Indian economy fell from some 5 billion rupees in 1929 to 4 billion in 1930 and as low as 3 billion in 1938. Indians starved but their currency stayed high, and the value of British assets in India was protected.
The manipulation of currency, throughout a feature of the colonial enterprise, reached its worst during the Great Depression of 1929–30, when Indian farmers (like those in the North American prairies) grew their grain but discovered no one could afford to buy it. Agricultural prices collapsed, but British tax demands did not; and cruelly, the British decided to restrict India’s money supply, fearing that the devaluation of Indian currency would cause losses to the British from a corresponding decline in the sterling value of their assets in India. So Britain insisted that the Indian rupee stay fixed at 1 shilling sixpence, and obliged the Indian government to take notes and coins out of circulation to keep the exchange rate high. The total amount of cash in circulation in the Indian economy fell from some 5 billion rupees in 1929 to 4 billion in 1930 and as low as 3 billion in 1938. Indians starved but their currency stayed high, and the value of British assets in India was protected.
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About Shashi Tharoor
Born in London and raised in India, Tharoor graduated from St. Stephen's College, Delhi, in 1975 and culminated his studies in 1978 with a doctorate in International Relations and Affairs from the Fletcher School of Law and Diplomacy, Tufts University. At the age of 22, he was the youngest person at the time to receive such an honour from the Fletcher School. From 1978 to 2007, Tharoor was a career official at the United Nations, rising to the rank of Under-Secretary General for Communications and Public Information in 2001. He announced his retirement after finishing second in the 2006 selection for U.N. Secretary-General to Ban Ki-moon.
In 2009, Tharoor began his political career by joining the Indian National Congress and successfully represented the party from Thiruvananthapuram, Kerala by winning in the Lok Sabha elections and becoming a member of parliament thrice. During the Congress-led UPA government, Tharoor served as Minister of State for External Affairs. A non-loyalist of the Gandhis, Tharoor was defeated by Mallikarjun Kharge to be elected as party president in 2022. He is currently a member of the Congress Working Committee, which is highest decision making body of the Indian National Congress.
A Sahitya Akademi Award winner, Tharoor has authored many works of fiction and non-fiction since 1981. Popular for his command of the English language, Tharoor was the most followed Indian on Twitter before being overtaken by Narendra Modi.