dated April 16, 1953: Charges About National Savings

On the 15th, Mr. V. P. Nayar (Communist) raised in the House of the People, serious charges about the way the National Savings scheme was being run. He said, "The movement has become a hoax perpetrated by cantankerous cranks. At a time when the Finance Minister is frantically running about to collect funds for the Five Year Plan, it is expected that he will at least set right the Savings organisation under his wing. But the Provincial National Savings Scheme in Delhi is under the administration and control of an officer not qualified for the job, and who in fact has been rejected by the Union Public Service Commission not once, but twice. Even a sitting member of the Congress has personally written to the Finance Ministry about the irregularities, and the matter was sent to the Special Branch Police. But the report of Mr. Katju (Home Minister)'s Scotland Yard has gone underground in the Finance Ministry. Various reports show that the National Savings Scheme is not being run satisfactorily but most undesirably — unworthy of a body calling itself the Government. If the matter continues like this the National Savings Scheme is bound to end up as the National Shaming Scheme." Mr. Arun Chandra Guha, Deputy Minister for Finance said Government expected much from the Scheme for implementing the Five Year Plan. The Savings Scheme, started during World War II to support the war effort, had run into lack of enthusiasm after the War. Government took steps to remedy the situation. He added, "All these complaints about National Savings started from July 1951, after some officers of the Delhi branch of the Scheme and some of the Central Secretariat were charged with gross misbehaviour, and one of them was suspended. Departmental action is still on, and a retaliatory campaign to vilify the whole Scheme in public started".

Recommended for you