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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 MagazineBrookings 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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