



New Delhi: Nation remembers the former Prime Minister of India, Indira Gandhi on the day of her martyrdom on October 31, 1984. The determined lady who was once considered as one of the world’s powerful leader was the only Prime Minister of the country who proved that India was not a soft state through her actions In the war with Pakistan in 1971 leading to the creation of Bangladesh, annexation of Sikkim in 1975 and suppression of separatist movement in the country.
Another most important reason for which Indira Gandhi needs to be remembered is her bold decision to nationalize leading banks in the country about 40 years ago on July 14, 1969. This proved to be wise and visionary, particularly, today as it insulated the country’s banking sector from the direct impact of global financial crisis. These nationalized banks worked under robust oversight and regulations while deepening financial access and markets. After nationalisation of banks a number of unemployed youth received loans for entrepreneurship
It is hard to believe today after 25 years of her death that India could once rebuff political pressure and military threat from the world’s most powerful country – the United States of America. The then US President, Richard Nixon disliked Indira Gandhi and referred to her as a ‘witch’ and a ‘clever fox’ in his private conversation with the Secretary of State, Henry Kissinger, which was later made public.
In 1971 the Pakistani army heavily cracked down on the civilian population of erstwhile East Pakistan and as a result over 10 million refugees fled to India. The Pakistan military action was in disregard to the election verdict which caused the emergence of Awami League as the single largest party.
The Pakistan military dictatorship under Agha Muhammad Yahya Khan and the then political leaders of West Pakistan apprehended the shifting of political capital from Islamabad to Dhaka or separation of its eastern wing, despite assurances the Bangabandhu Sheikh Mujibur Rahman to resolve the issue within the framework of Pakistan.
The military repression in erstwhile East Pakistan and the flight of refugees brought India into a war with Pakistan. The US mooted a resolution in the United Nations Security Council warning India going to war with Pakistan. Indira Gandhi signed a treaty of friendship and cooperation with the Soviet Union in August 1971 and the Soviet Union vetoed US proposal in the UN.
Indira Gandhi also took measures to...
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