 Deshmukh's tenure - during which he delivered six budgets and an interim budget - is noted for the effective management of the Indian economy and its steady growth which saw the economy recover from the impacts of the events of the 1940s.Shortly after his resignation from the Cabinet, Deshmukh was appointed as Chairman of India's University Grants Commission in 1956, a post he held until 1961.Deshmukh, who was the first chairman of the commission after it became a statutory body, played a key role in the development of university libraries during his tenure.