................I was also one of the authors of the Liberalised Exchange Rate Management System along with OP Sodhani and PB Kulkarni. I was a member of the Policy Group on External Debt Statistics in a two-man committee along with Y V Reddy, then joint secretary in the finance ministry. Second, when the project to prepare the document was initiated, I was approached by RBI authorities to head the History Cell, a prestigious assignment from the professional point of view. Unfortunately, I could not accept owing to other heavy commitments. It is possible to review this massive volume in two parts only selectively. Overall, it is a chronicle well told by a team of experienced officials with good documentation and guided by a distinguished advisory committee of experts. I only wish they had had access to the finance ministry archives also, ................
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