Montek Singh: On way back?

New Delhi, June 12: The original band of reformers is back in power, almost.

With Manmohan Singh as Prime Minister and P. Chidambaram as finance minister in the United Progressive Alliance government, two of the most ardent supporters of economic reforms in India are back on Raisina Hill.

The third came calling today.

Montek Singh Ahluwalia, who was the economic affairs secretary and later became finance secretary when Singh launched the economic reforms in 1991, called on Chidambaram in the morning, fanning speculation that the government would bring him back to a key advisory position.

Ahluwalia, who made a brief stopover in Delhi on his way to attend a conference in Beijing, was quick to dismiss the speculation as just that and described his visit as a courtesy call.

He will be back in the capital five days later when more elaborate discussions could take place.

“There is a lot of goodwill for both the Prime Minister and the finance minister. They were part of the original reform team,” said Ahluwalia, who was scheduled to meet Singh later in the day.

Rumours have been rife that Ahluwalia, who completes his tenure in the International Monetary Fund in July, will be returning as an adviser either to the Prime Minister’s Office or the finance minister.

He is also in the running for the post of deputy chairperson of the Planning Commission but there has been a thinking in the government that the post should be held by a politician who will be able to deal with competing demands from states, many of which face severe financial problems.

Ahluwalia said: “Both Manmohan Singh and Chidambaram are known reformists and everyone is waiting to see what comes up in the budget. I am waiting for it too.”

The budget will be placed anytime after July 2 and everyone is waiting to see how strongly it will reflect the reformist credentials of this government. One area of worry is that the government relies for support heavily on the Left, a camp which has been squeamish about several aspects of the reform process.

Ahluwalia, an affable team player, also served as finance secretary under Chidambaram during the United Front government rule.

He has an M. Phil from Oxford and has served as a member of the Planning Commission with the rank of minister of state.