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dated February 20, 1958: T.T.K.’s resignation

Discussing the resignation of Mr. T.T. Krishnamachari, India’s Finance Minister, the Washington Post said on February 17: “India has just given an interesting demonstration of governmental responsibility to uphold public morality. There was no showing that the Finance Minister was personally involved in the scandal in which public insurance funds were diverted to shore up a private businessman.” The paper said that in many ways T.T.K.’s resignation would be a blow to the Government. He was an effective advocate of India’s Five-Year Plan. Moreover, he won respect for his negotiations for financial assistance from the United States. Thus, there were strong reasons for the Prime Minister to keep him. “Nevertheless, Mr. Nehru felt compelled to accept his resignation because T.T.K. was technically responsible for the misconduct in his Ministry. The example is pertinent to current events in Washington.”

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