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The Finance Minister, Mr Jaswant Singh, with Mr R. P. Goenka, Chairman, Board of Governors, IMI, on his way to attend the 19th Convocation of International Management Institute in the Capital on Monday.

NEW DELHI, May 12

THE Union Finance Minister, Mr Jaswant Singh, on Monday claimed credit on behalf of the Government for what he considered to be better management of the Indian economy during the recent crisis of the US attack on Iraq.

"Compare what India did in managing this crisis to how we fared in a similar crisis in 1991. Our achievement this time round is no mean achievement," he said in a convocation address at the 19th convocation of The International Management Institute (IMI) in the Capital on Monday.

He said the NDA Government had been able to predict with "great accuracy" every development of the recent war and take corrective steps accordingly.

"We have done well in managing the situation on the hydrocarbon front. Our forex position is much better now. We have also done well on the production front despite the drought in many parts of the country. Inflation had been pushed up, but is within limits," he said.

Mr Singh urged management graduates to strive for excellence in their areas of work. "There is a need to shed cynicism. Too much of cynicism pervades in the atmosphere these days. Believe in India. Too often, we belittle our own competence and merit of India," he said while offering his thoughts on management and challenges of management.

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