Tamil Nadu - Chennai   

Banks’ nationalisation: Karunanidhi quotes The Hindu report

CHENNAI: Chief Minister M. Karunanidhi on Sunday slammed critics who raised doubts over who had first proposed the nationalisation of banks in 1969.

He wanted them to refer to newspapers and periodicals of that period.

He quoted a news report from The Hindu dated April 20, 1969. The report said: “Mr. Karunanidhi also called for the nationalisation of banks. This demand appears to have caused surprise among some of the Senior Officials of the Union Government.”

The Hindu report on that day also said: “A demand for recasting the Fourth Plan so as to make it really a ‘People’s Plan’ was made by the Tamil Nadu Chief Minister, Mr. M. Karunanidhi, addressing the National Development Council meeting today, and it was backed by the Chief Ministers of Kerala and West Bengal. The demand also found support from the Chief Ministers of other States… Other points made by Mr. Karunanidhi were: There should be a structural change in the constitution of the National Development Council to give it a permanent basis and a “continuing Secretariat” to make it serve as a link between the States and the Centre. Public sector projects should be entrusted at least on an experimental basis to the States where they are located to ensure their efficiency and economic operation.”

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