Read full text of Manmohan Singh's Friday speech in which he criticises Modi govt for creating a climate of fear in society that is 'stifling economic activity'.
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1. My question to all opposition party leaders, and especially to former PM, is this: do they accept that NDA government led by PM Narendra Modi has a clear mandate of people of India? 2. Yes, economic slowdown is a fact but what is approach of opposition parties? They are just criticizing the government. They are not interested in an exercise which involves a close scrutiny of performance of economy after 2010, and of course of failure of the Congress led UPA government to implement much-needed reforms. 3. Opposition parties’ and particularly of Congress’ basic objective is very clear- to embarrass the NDA government and PM Narendra Modi in particular. How is it useful in dealing with the current economic slowdown? Therefore, I think that opposition parties and particularly economists like former PM Manmohan Singh, should, instead of merely criticizing the NDA government, discuss need for, and then demand, implementation of many reforms, especially in fields of labour, banking and agriculture. These parties have to offer a hand of cooperation so that implementation of reforms is smooth and effective.
Dear Mr. Apte. Your comment, like the mainstream media, only questions the opposition. In fact, your comment mentions the word opposition 5 times. But not one time does it question this government. Policy making is the responsibility of the government, not the opposition. The discussion should be initiated by the government. It is like going to the Supreme Court as the Amicus Curia uninvited and then being thrown out. Please learn to criticize and question the government you voted for.
Dr. Singh is a respected economist. Even though, he is in the opposition, he is not a typical politician. PM Modi will do well to pay heed to Dr. Singh. And, please get rid of your incompetent FM.
MMS was a golden zero in 10 years of UPA. A pathetic puppet dancing to 10 Janpath — making sure the ‘parcel’ of govt files were hand-delivered to the presiding goddess at 10 Janpath. UPA looteras made money hand over fist. in scam after scams. Thank god, Modi has banished these dalals, freebooters and buccaneers from all corridors of power.
As if the scams were not enough, terrorists like Indian Mujaedin had a field day under MMS — bomb blasts wracked city after city with sickening regularity. Crowning glory was of course 26/11 and the seaborne invasion of Mumbai by Jehadis from Pakistan.
(Thank you World Bank for putting a gun on MMS head in 1991 with barely 2 weeks of forex left and tonnes of gold airlifted to Bank of England by that other golden zero, Yashwant Sinha when he was FM. No way India would have done away with the Licence Permit Raj gift of Nehru unless it was staring at the wrong end of double-barred gun! )
One fears it now goes beyond sentiment and emotion alone. That could be changed overnight by executive fiat. There has been colossal misdirection of resources. Consider the entire oil bonanza. The depletion of reserves accumulated by LIC ( actually premia ) , ONGC, RBI. A combined fiscal deficit of close to 10% of GDP each year. If those sums had been used productively, such an immense fiscal stimulus ought to have set off a virtuous cycle of growth. Railways and the road sector have been a sink. The pay commission, OROP, a million men in the CAPF. The government is absorbing too much of the barqat of the economy. To top it all, the incandescent economic team.
NDA is still absorbing losses created by so called economist PM, lot of NPA of Nationalized banks plus losses of PSU are coming to haunt India now. Remember corruption in central government and railway minister resigning due to bribe taken by his nephew. It takes more than decade to over come all fleas of bad policies of congress.
How long will you go on blaming the Congress? Another 1000 years? Stop the blame game and face the consequences of your actions. In short, stop being babies.
This nonsense wouldn’t do. Modi had five full years, which he had asked for to fix everything that the UPA government had done wrong! Instead the economy worsened during six years under his watch!
The deficits would’ve been lower if the economy had been growing well. Railways would’ve not suffered so much. Neither the road sector.
People produce when they’re reasonably happy. And there Manmohan Singh is right.
Now you have the real air-pollution, and you have the pollution of hate given by the BJP. The two combined are suffocating India.
How I wish policy paralysis continued after 2014.
1. My question to all opposition party leaders, and especially to former PM, is this: do they accept that NDA government led by PM Narendra Modi has a clear mandate of people of India? 2. Yes, economic slowdown is a fact but what is approach of opposition parties? They are just criticizing the government. They are not interested in an exercise which involves a close scrutiny of performance of economy after 2010, and of course of failure of the Congress led UPA government to implement much-needed reforms. 3. Opposition parties’ and particularly of Congress’ basic objective is very clear- to embarrass the NDA government and PM Narendra Modi in particular. How is it useful in dealing with the current economic slowdown? Therefore, I think that opposition parties and particularly economists like former PM Manmohan Singh, should, instead of merely criticizing the NDA government, discuss need for, and then demand, implementation of many reforms, especially in fields of labour, banking and agriculture. These parties have to offer a hand of cooperation so that implementation of reforms is smooth and effective.
Dear Mr. Apte. Your comment, like the mainstream media, only questions the opposition. In fact, your comment mentions the word opposition 5 times. But not one time does it question this government. Policy making is the responsibility of the government, not the opposition. The discussion should be initiated by the government. It is like going to the Supreme Court as the Amicus Curia uninvited and then being thrown out. Please learn to criticize and question the government you voted for.
There is fear in the air.
Dr. Singh is a respected economist. Even though, he is in the opposition, he is not a typical politician. PM Modi will do well to pay heed to Dr. Singh. And, please get rid of your incompetent FM.
MMS was a golden zero in 10 years of UPA. A pathetic puppet dancing to 10 Janpath — making sure the ‘parcel’ of govt files were hand-delivered to the presiding goddess at 10 Janpath. UPA looteras made money hand over fist. in scam after scams. Thank god, Modi has banished these dalals, freebooters and buccaneers from all corridors of power.
As if the scams were not enough, terrorists like Indian Mujaedin had a field day under MMS — bomb blasts wracked city after city with sickening regularity. Crowning glory was of course 26/11 and the seaborne invasion of Mumbai by Jehadis from Pakistan.
(Thank you World Bank for putting a gun on MMS head in 1991 with barely 2 weeks of forex left and tonnes of gold airlifted to Bank of England by that other golden zero, Yashwant Sinha when he was FM. No way India would have done away with the Licence Permit Raj gift of Nehru unless it was staring at the wrong end of double-barred gun! )
One fears it now goes beyond sentiment and emotion alone. That could be changed overnight by executive fiat. There has been colossal misdirection of resources. Consider the entire oil bonanza. The depletion of reserves accumulated by LIC ( actually premia ) , ONGC, RBI. A combined fiscal deficit of close to 10% of GDP each year. If those sums had been used productively, such an immense fiscal stimulus ought to have set off a virtuous cycle of growth. Railways and the road sector have been a sink. The pay commission, OROP, a million men in the CAPF. The government is absorbing too much of the barqat of the economy. To top it all, the incandescent economic team.
NDA is still absorbing losses created by so called economist PM, lot of NPA of Nationalized banks plus losses of PSU are coming to haunt India now. Remember corruption in central government and railway minister resigning due to bribe taken by his nephew. It takes more than decade to over come all fleas of bad policies of congress.
How long will you go on blaming the Congress? Another 1000 years? Stop the blame game and face the consequences of your actions. In short, stop being babies.
This nonsense wouldn’t do. Modi had five full years, which he had asked for to fix everything that the UPA government had done wrong! Instead the economy worsened during six years under his watch!
The deficits would’ve been lower if the economy had been growing well. Railways would’ve not suffered so much. Neither the road sector.
People produce when they’re reasonably happy. And there Manmohan Singh is right.
Now you have the real air-pollution, and you have the pollution of hate given by the BJP. The two combined are suffocating India.