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“Before you became FM, you were still PM but what stopped you from speaking on economy before the last 2 days?”: CM

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Author: admin
July 8, 2012 ##

Shri Narendra Modi comes down heavily on UPA and PM Dr. Singh on prevailing economic situation.                                                                                          

What prevented PM from announcing reform measures before the resignation of Mr. Pranab Mukherjee? Asks Shri Modi. 

PM & former FM belonged to same party so coalition cannot be an excuse for lack of reforms: Shri Modi

 

Gujarat Chief Minister Shri Narendra Modi has come down heavily on the UPA, particularly the Prime Minister Dr. Manmohan Singh over the gloomy economic climate prevailing over the country.He was speaking at a function to mark the foundation of Azad Hind Fauz under Netaji Subhas Bose.

The Chief Minister stated, “After 20 years, Dr. Manmohan Singh has once again become the Finance Minister. In the last 24 hours he has been taking steps and announcing polices for economic reforms.”

But, Shri Modi added that he had a very serious question for the Prime Minister. He said, “Till when you weren’t FM, you were very much the PM of the country. If what you are saying for 24 hrs will advance nation then what stopped you from speaking earlier?”

Shri Modi wanted to know what or who was stopping the Prime Minister from delivering the desired reforms. “Who was stopping you? What is the reason you have got this new vision?” the Chief Minister affirmed.

Referring to former Finance Minister Mr. Pranab Mukherjee, Shri Modi further wanted to know was it that the then FM wasn’t listening to the PM or was it that the PM feared that FM would succeed which is why he never spelt out these measures earlier?

Shri Modi said that being the PM the Government and its leadership belongs to Dr. Singh but when the country was reeling under severe economic burden was it not the PM’s responsibility to come out clear on these problems? Why this didn’t happen is something the country wanted to know.

Mincing no words and going a step further, Shri Modi reminded the PM that the former Finance Minister also belonged to his party and thus leaving no scope for coalition compulsions. He also said that it the PM denies all these lapses, it is unlikely that the nation will believe what he is saying even toady.

This is not the first time Shri Modi has come out severely against the poor handling of the economy by the Congress-led UPA.Last month, he was at the forefront of attacking the UPA over the downgrade by S&P due to lapses in policy making and lack of political will. Shri Modi had Tweeted, “UPA is a toxic combination of poor economic decisions, lack of reforms & political roadblocks pushing India to the brink.”In April when Mr. Kaushik Basu made a comment on the delay of reforms till 2014 Shri Modi had rightly Tweeted, “Mr. Kaushik Basu…‘Reforms shutdown till 2014?’ UPA is too paralyzed to perform and too ‘scandal-ized’ to reform!” 

Several domestic and international groups have also been putting severe question marks on the India story. Leading international journal the Economist did a story in June this year titled, ‘Farewell to Incredible India” in which it forecasted a period of lower growth in India. Back home, Firstpost wrote that on the economy while the PM offered tired clichés, it was Shri Narendra Modi who offered that big idea.

Leading international brokerage firm CLSA also gave a very bleak picture of the India story in its journal ‘GREED & fear.’In contrast, it said that Gujarat marks a stark contrast to the rest of the country and has become the poster child of economic development in India. Other bodies that have lauded Gujarat’s economic development include TIME Magazine, Brookings Institution and Financial Times.

Ace economist Mr. Bibek Debroy has written a 2-part blog on the development in Gujarat and the poverty indexes of Gujarat, which have been a positive contrast as compared to the gloomy national figures.

Thus as the nation continues to be plagued by dismal economic situation, Shri Narendra Modi is right in seeking urgent reforms and transparency from the UPA before it becomes too late. 

READ: Shri Narendra Modi’s complete interview with Economic Times in which he talks about Gujarat’s development, economic condition of the nation, need to regain investor confidence and lot more…


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  • sandeep_panchal_ce October 11, 2012 Example of Business family running small business. If you want to give good life to your family and all modes and cons in your house then you need to generate more money for your family but if some one in your business being traitor allowing your customer to take products from your shop without paying. This will result in to massive debt and you might needs to close your business and all your dreams to make your family’s life good will be in teeter. This is classic example explaining situation in Ireland, Spain and Greek. This is wake up call for India to change and restore Tax system in good and effective condition.
  • sandeep_panchal_ce October 11, 2012 If we don’t improve our TAX system & Tax collecting dramatically & aggressively then chances of Greek style economic conditions are very likely. Govt spending money but where this money come from of course from TAX & services. People & businesses are avoiding & involve in tax evasion mostly multinational companies for their complex structure & ability to move their HQ where low Corp TAX & sales TAX exists or TAX heavens. We need to close all TAX avoidance loop hole & tax relaxation scheme to generate more money which can be helpful to country. Lower TAX & aggressive collection is necessary to attract more business. There are companies in the world whose cash reserve is more then some countries income like Apple, Google, Facebook, Microsoft, Vodafone, ebay, Amazon, Samsung & many others who avoid tax using virtual services & shifting their assets in different location where TAX is low. Some American companies are not paying TAX in America then how on the earth they going to Pay tax in India. Opening doors for this kind of companies are just insanity. If our system is weak then our money will go to those companies and countries where people are prosperous and our people will leave in poverty. India’s TAX system is not aggressive and effective enough to generate money for government so they can rapidly improve infrastructure and living standards.
  • Roshan Karkera September 12, 2012 Its time For us look who is more capable & who is not we should be ashamed of ourselves by opting for accepting poor dynasty politics of Nehru family which took India backwards… Mr Rahul gandhi has shown his inefficeny in last two elections where is own constituency people voted against thier own candidate…… this shows how good they are…… The Amethi & Rai bareli is led by populist PM,s of India but still there is no electricity no proper Roads what development they have done in 60 years to that particular constituency & what they will do do India has country they just want to be in power & loot this country……. Jago India Jago ……
  • Aman Marwah August 27, 2012 sir i only want to addresss that- As per wikileaks report of swiss bank balances of various indians, it is enough for country to emerge as the greatest power among the world.It can be a very easy task if you become the next prime minister , and make such policies that indians( who have black money in swiss bank ) can make indians helpless to withdraw and bring that money to india… if 10% only get returns it can be enough for your government to make india reach various summits of the world and universe that even Mr. Obama will be surprised..

    WE AND OUR COUNTRY MATES WANT YOU AS THE NEXT RULING GOVERNMENT TO BUILD INDIA THE ORGINAL ONE WHICH IT DESERVES TO BE.. JAI HIND
  • Devesh Shah August 26, 2012 ARE MODI JI CHHODIYE PM KO ! IS BAAR AGAR FREE HOME KA CONCEPT NA CHALA TO 2018 ME KAHENGE SWISS BANK SE PAISE LAAYENGE AUR 5B SAAL FREE KHILAYENGE !
  • Venkatesan K.g August 21, 2012 Further to my earlier comment, I am a strong supporter of Narendra Modi with lots and lots of expectation. He is the brahmastra that we have today. It is important for all of us to support and guide him to salvage this noble and ancient country…BJP has to understand and give up their ego for the sake of nation.. lets unite and bring the change.
  • Venkatesan K.g August 21, 2012 We need to have some kind of escrow mechanisim that if the elected PM do not fulfill his promise, he is automatically resigned from the position. The time limit and conditions can be set by himself with utmost fairness to the people of the country. I would request Mr.Narendra Modi to say something on this.
  • k.maneesh.2003 August 19, 2012 MMS is a glorified, so-called-clean-face, so-called-wise & so-called-non-corrupt face of Congress Dynasty, he is a puppet in hands of corrupt Gandhi Dynasty. I dont understand why people dont turn out of home for vote and bring reformation of nation. Congress is in power because all the votes are purchased from poor, hungry, lower earning people by bribe for vote (we cannot blame poor peoples for it), its we middle and upper earning class people who can come out and vote right person and bring reform (present % of voting is average 30 to 50% only). Its no use of just passing comments on twitter/facebook… about corruption. We want a Visionary leader like Shri Narendra Bhai in Power in PM’s post.
  • Harsha Anjaneya August 6, 2012 If the same economic/and political situation stays for another 5 – 10 years, I am sure we will be the Next Greece and Libya. Country needs more Narendra Modi’s. Really admire and appreciate the work he is done in his state.
  • mxwlarun@gmail.com July 20, 2012 The media has been glorifying Dr. Manmohan Singh beyond his dues. He is not the reformist who turned the economy in the early nineties as the Finance Minister. It was Narasimha Rao the Prime Minister who was the architect of liberalisation and Manmohan Singh was a just a cog in the wheel. The balance of payments which stood very precariously was not solved by any magic wand of Manmohan Singh. It was the burst of IT foreign exchange earnings that turned the tide, but all credit goes to Manmohan Singh unduly. Manmohan Singh is the worst Prime Minister after V. P. Singh and also the most ineffective and weak Prime Minister any country could have.— Dharma Perumal

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