Delhi – Prime Minister's Private Study, South Block – March 7th, 1949
While the rest of the Bharat was still processing the recently passed law, the atmosphere of Arjun's private study was filled with comfortable calm, with occasional ticking sound of the wall clock. Papers covered his desk.
Reports from every corner of India lay scattered across the wood. Each document told him about a different part of the massive job he had taken on.
Arjun sat back in his chair and stared out the window. He was thinking about everything that had happened in the past eighteen months. But at the same time, he was also thinking about his memories from the original timeline.
Those memories were like having a map and a warning at the same time. He could see exactly where India had screwed up before. He knew which important decisions had been delayed. He remembered all the chances for real change that had been wasted.
Something was bothering him. The Reserve Bank of India was still owned by private shareholders. This was a huge problem. In his original timeline, the RBI had been nationalized in January 1949. Now it was already March. He had let this slip while dealing with wars and writing the constitution. This delay was dangerous.
His perfect memory let him remember exactly how this mistake had hurt India's economy in his previous life. You cannot run a country when private shareholders control your central bank. The British had set up the RBI to serve their interests, not India's. Every day it stayed private was another day of bad monetary policy.
But the RBI was just one piece of a bigger puzzle. His future knowledge showed him all the other problems. India's stock markets were a mess. They would stay chaotic for decades without proper rules. In his original timeline, it had taken forever to fix this. Politicians had always compromised. He could fix all of this right now instead of waiting decades.
Then there was retirement. In his original timeline, India had struggled for decades with terrible pension systems. Old people had no security and no dignity. The country needed a real retirement system. It would protect citizens and create a huge pool of money for development projects.
The tax system was also broken. The British had designed it to steal money from India, not to build India up. He remembered how long it had taken to fix this in his previous life. All that wasted time had delayed development for years. He needed to fix it immediately.
Arjun spent the next two days writing bills. He barely stopped working. His secretary brought him cup after cup of strong tea. His perfect memory helped him remember economic theories from books he had read.
But more importantly, he could remember what had worked and what had failed in his original timeline. He put all of this knowledge into clear laws that Parliament could understand.
He was not copying old models. But instead, taking the best parts from his previous timeline and mixing them with good ideas from other countries. Everything had to fit India's specific situation. Each bill was not just a law by itself.
The four bills would work together like parts of one big economic machine. This would help him avoid the decades of problems he had seen before.
By March 9th evening, four thick bills sat on his desk. The Reserve Bank of India Nationalization Bill. The Securities and Exchange Regulation Bill. The National Pension and Retirement Security Bill. And the Taxation Reform Bill.
On March 10th, Arjun called a special Cabinet meeting. The important ministers came into the room looking curious. Sardar Patel sat to Arjun's right like always.
Finance Minister Kelkar organized his papers carefully while other ministers like G.B. Pant, Narahari D. Parikh, Lal Bahadur Shashti, Rafi Ahmed, Baldev Singh, K.M. Munshi, etc found their seats.
Everyone could feel that something big was coming. They had learned that Arjun's special meetings meant major announcements.
"Gentlemen," Arjun said. His voice cut through the small talk. "Till now, we have managed to build the foundation of our Republic. And as we talk, our factories and industries are also being built. But we still haven't touched one key sector of our nation building. I'm talking about the Finances. Our money."
At the mention of finances, Kelkar immediately became alert.
Arjun continued," And I think, now is the right time that we completely revamp our broken financial system."
He pushed four thick folders across the table. "I want Parliament to pass four bills immediately. Together, these will completely change India's economy. They will give us the pillars we need for long term success."
Arjun opened the first folder. "The Reserve Bank of India Nationalisation Bill will make the government the owner of our central bank. Private shareholders will no longer control it. The RBI must serve India's interests, not private profits. This bill lets the bank control all national funds, including our gold reserves. It makes sure monetary policy helps our development plans."
Finance Minister Kelkar nodded. His training as an economist helped him understand right away. "Prime Minister, this is bold but I agree that we need it. It gives us the tools for big development projects."
"Exactly," Arjun said. "A sovereign nation must control its own money without private interference."
He moved to the second folder. "The Securities and Exchange Regulation Bill creates the Securities and Exchange Board of India. This independent body will register and watch over all investments. Development bonds, industrial shares, pension funds.
The commission will require public reporting and independent audits. It will stop speculation. This protects workers' savings and builds confidence among serious investors."
Privately, Arjun knew this would put India decades ahead of his original timeline. Proper market regulation had come much later before, and only after expensive mistakes.
Planning Minister Prasad could see the bigger picture. "Disciplined financial markets that protect public money while encouraging good investment. This makes our development plans much more credible."
"Right," Arjun said. "We need financial markets that build the country instead of just making speculators rich."
The third folder had his most creative idea. "The National Pension and Retirement Security Bill creates mandatory retirement savings. All government employees, public institution workers, and private school employees will contribute twenty percent of their salary. Half goes to their personal pension account. The other half goes into a national pool for strategic investment through the National Retirement Fund."
He let the ministers think about how big this was. "People can retire at fifty-five. The National Retirement Fund will be run by a State Pension Board under RBI oversight. This fund will become our biggest source of domestic savings. The money goes to gold reserves, infrastructure bonds, and strategic industries."
Labour Minister Shastri looked thoughtful. "Twenty percent is a lot, Prime Minister. But guaranteed retirement at fifty-five will motivate workers."
"It connects individual savings to national development," Arjun explained. "Workers secure their future while funding the nation's growth."
The last folder had the tax reforms that would tie everything together. "The Taxation Reform Bill simplifies income tax with reasonable rates. Most importantly, the twenty percent retirement contribution is completely tax free.
This encourages people to participate while ensuring government revenue. The bill also gives tax credits to private employers who join the pension system."
Law Minister Munshi looked at the draft laws. They were complex, but the strategy was quite clever. "Prime Minister, these four bills would rewrite India's economic future in one legislative session. They create a powerful, self-sustaining financial system under government control. I have to say, you're quite good with numbers and finances."
He wanted to add 'for someone who has been a historian', not due to any malice, but still, ultimately decided against it.
"Haha, it's not that difficult Munshi-ji, but still, I appreciate it", Arjun replied as he smiled.
Sardar Patel had listened in silence. His weathered face showed satisfaction as he finally spoke. "You have made sure that India's wealth stays in India. It will fund our rise instead of flowing to foreign banks. People's savings will build national strength. These are the final pillars we need."
Arjun nodded confidently. He had found the critical gaps in India's economic foundation using his analytical skills and painful lessons from his original timeline. These were not just laws. They were the financial weapons needed to match India's growing military and political power. They would help avoid the decades of economic problems he had witnessed before.
The long game was not just about winning battles or passing constitutional amendments. It was about building a complete, unbeatable, and economically independent nation. A nation that could learn from future mistakes before making them. The blueprint was ready. The laws were written. Parliament would soon face its next big task.
"When do you want to introduce these bills?" Krishnamachari asked.
"Let's see, today is Thursday, so we'll keep the Parliament session on Monday then." Arjun replied. "Delay helps nobody. These reforms will take time to implement fully, so we must start now."
The Cabinet members looked at each other. They had gotten used to their Prime Minister's fast pace, but this was impressive even for him.
"Alright then. I'll inform the Savarkar about the upcoming bills," Patel said. "That way they can be prepared for this in advance."
The political timing was perfect for this. And so was economic needs. India was about to take control of its financial destiny in ways that would reshape the subcontinent for generations.