It is necessary to remember when and what went wrong during a certain period: Nirmala Sitharaman

WASHINGTON: Remembering when and what went wrong during a certain period is absolutely necessary, Minister of Finance of the Union Nirmala Sitharaman said, pointing to the former prime minister Manmohan Singh for accusing the NDA government of always trying to blame its rivals.

Accepting that there were some weaknesses in his regime, Singh had said on Thursday that the Modi government should stop blaming the UPA for each economic crisis, as five years were enough time to find solutions.

I respect Dr Manmohan Singh for telling me not to do the blame game. But recalling when and what went wrong during a certain period is absolutely necessary to put it in context, now that I'm being charged that there's no narrative at all about the economy, Sitharaman told a group of Indian reporters here on Thursday.

He was answering a question about Singh's accusations that the government was always trying to blame his opponents instead of finding solutions.

Comments from the leader of the Congress at the press conference in Mumbai came after Sitharaman at an event in the University of Colombia in New York held the Manmohan Singh - Raghuram Rajan combination responsible for subjecting public sector banks (PSBs) to their worst phase.

I have no reason to doubt that Rajan feels every word of what he is saying. And I am here today, giving due respect, but also presenting the fact that Indian public sector banks did not have a worse phase. that when the combination of Singh and Rajan, as prime minister and the RBI Governor , had. At that time, none of us knew, he had said.

Sitharaman told the group of Indian reporters on Thursday that his comments in New York were an answer to a question.

The question was in parts extracted from Rajan's speech and had three components, he said.

The quote referred to what the former RBI governor had said about centralized leadership and the absence of a coherent narrative of the economy, Sitharaman said.

I also understand that in India there is already a lot of discussion about the finance minister being out of the country and how she could talk about issues that should essentially be discussed within the country.

With this in mind, I would still say it was an answer given to a question that reads a quote from the speech of the former governor of the Reserve Bank, he said.

So, if a political evaluation has been carried out, nothing prevents someone from doing it and suddenly it is the right and the prerogative of whoever wants to do it, said the Union finance minister.

She said she does not feel she has crossed the line by giving an answer, either inside or outside the country.

If there is a charge against us that we have not given a coherent narrative about the economy, I am sorry, it probably has not even reached the narrative given to us about the economy or the objective with which we are working or the response with which we are working. responding to that stress in different parts of the country, those industries that are under stress, those messages probably have not even reached the people who have told us, said the finance minister.

She said the government listens and responds. If you want to say why in some areas there are difficulties, the government of the day has to remember what went wrong, Sitharaman said.

The finance minister said while recalling what went wrong, it certainly pertains to a period in which Manmohan Singh was prime minister and Raghuram Rajan , the RBI Governor .

I had to remember that. So, it's not so much with the feeling of wanting to blame someone, Sitharaman said.

I don't need to blame him. It is more than apparent when the misdeeds happened in the banks and what is the government that is spending time to eliminate the obstruction of public sector banks and what is the government that is persecuting all those who have taken money during the government of the UPA and they have left the country for fear that measures will be taken now under this government, he said.

Sitharaman said she respects Manmohan Singh for telling her not to do the blame game, but recalling when and what went wrong during a certain period is absolutely necessary to put it in context.

India under the current government will become a $ 5 billion economy as transparent measures and policies are implemented, he said.

This will be possible since loans cannot be taken from banks by phone, Sitharaman said, when analyzing the previous UPA dispensation.

The government does not support friends capitalism And this is part of the narrative about the economy, he said.

I would like to mix my narrative along with stating what went wrong before. I wish Congress had the courage of conviction to hear it, Sitharaman said.

We never made mistakes and corruption. We have not granted any loans to the cronies. We have never supported any wrongdoing and analyzed the way in which, as prime minister, I would like to recall again the number of corruption cases that occurred during UPA. Has anyone been here (under NDA)? , she asked.

These are not lessons learned. These are the convictions of the current government. People must have learned the lessons even before, Sitharaman said.