80. When the market won over the collective labour

October 19, 1990, marks a significant day in Soviet Russia's history, as President Mikhail Gorbachev secured parliamentary approval to transition to a market economy amid an economy that was severely deteriorating. 

The plan was to transform the destitute Soviet state from a Communist to a market economy. It was a strong parliamentary mandate that highlights the urgency and significance of the issue. 

The final vote, 333 for and 12 against, with 34 abstentions, reflected resignation more than enthusiasm. It was the most sweeping reformation of the Soviet economy in six decades.

Gorbachev wanted to overcome the two biggest obstacles - the threat of inflation rising out of control and the political resistance of the nation's restive republics.

He relied on the extraordinary powers of decree given to him to bring the economy under control and create conditions for a marketplace. It meant “tightening the budget and money supply, creating stock markets and a more independent banking system, clearing the way for more foreign investment, and protecting private entrepreneurs from state meddling.”

To me, someone who cut his teeth as a member of the Students’ Federation of India, the youth wing of the Communist Party of India, it was a shock. The Federation was very active in those days under the presidency of M.A. Baby.

However, when news about the USSR started reaching newspapers, I recall attending a small gathering of members where someone addressed us, stating that our ideology itself affirms that we support Independence, Socialism, and Democracy. 

So, it was a natural development, and we were convinced because the preface Mr. Gorbachev had already written while promoting his policy of Glasnost (meaning Openness) and Perestroika (meaning Restructuring).

Something was brewing that every Communist comrade was well aware of worldwide. Although what later happened was drastic and painful for the core Communists.

In hindsight, we agree that although Gorbachev aimed to preserve the Soviet Union and Marxist-Leninist principles, he also rightly identified the necessity for substantial reforms. He began the withdrawal of troops from Afghanistan and engaged in discussions on nuclear weapons production to help end the Cold War.

I’ve just one question – why are all such things done on the 8th or by someone born on the 8th or having some connection with this number in some other way?

On 11 March 1985, when the Politburo of the CPSU elected Mikhail Gorbachev following Chernenko's death, he became the eighth General Secretary of the Communist Party of the Soviet Union.

And don’t forget to see the track record of Prime Minister Narendra Modi. I’m sure you will agree with me regarding the importance of the number 8.