Dropped idea of White Paper on economy as it could have hurt national interest: PM Modi
New Delhi: Prime Minister Narendra Modi today said he had thought of bringing out a White Paper on the state of economy after 10 years of UPA rule when NDA rode to power in 2014 but refrained from doing fearing it would hurt the country’s interest.
Just before presentation of the NDA government’s first Budget in July 2014, Modi said, his political sense advised him to present a health of economy, including the precarious state of public sector banks and problems with the Budget numbers. But national interest prevented him from doing so.
Two years of his rule has ended large corruption as also brought in the “biggest tax reform” of Goods and Services Tax (GST), he told to a private news channel in an interview.
“Today I think, before presenting the first budget (in 2014), I should have placed a White Paper in Parliament on the economic situation in the country. This thought had come to me. I had two paths. Politics told me that I should put out all the details.
“But the nation’s interest told me that this information would increase the hopelessness, the markets would be badly hit, it would be big blow to the economy and the world’s view of India would get worse… it would have been very difficult to get the economy out of that…I chose to stay silent at the risk of political damage in the national interest,” he said.
The government did not put the details about the situation of the public sector banks and how the previous government used to move budget numbers, the Prime Minister said.
“It hurt us… we were criticised, it was made to look like it was my fault. But I took the political damage in the country’s interest and the result of that I am being able to fix things, despite shortcomings,” he said.
According to a Nerwork18 press release, Modi expressed confidence that “unbiased people” would be surprised to compare the current situation with what prevailed during 2014.PTI