PM Modi said that bringing the white paper in 2014 would have suited him politically.
Prime Minister Narendra Modi on Friday said his government could have brought a white paper on economy in 2014 itself when it came to power but he chose 'rashtraneeti' over 'rajneeti' as he did not want to shake the country's confidence.
The document has been introduced in the last Parliament session before the general elections.
Prime Minister Modi-led government on Thursday brought a white paper tearing into Congress-led UPA rule and saying that it had turned the Indian economy into a non-performing one through indiscriminate revenue expenditure, off budget borrowings and pile of bad debts at banks.
Addressing the Times Groups' ET NOW Global Business Summit, PM Modi said that in the decade before 2014, the policies on which the country was running was taking the country on the path of bankruptcy. "On this, we have tabled a white paper on the economy in Parliament," he said.
"The discussion on it is ongoing. Since there is such a big audience, I would like to state my 'Mann ki Baat' also that the white paper that I have brought now, I could have brought in 2014. If my aim had been to derive political gain, then I would have kept those figures before the people 10 years ago," PM Modi said.
"When things came before me in 2014, I was stunned. The economy was in a critical situation. Due to scams and policy paralysis, there was widespread pessimism among global investors. If I would have brought these things to light, if a wrong signal would have gone, probably the country would have lost its confidence in the country like when a patient gets to know that he has a serious disease, he panics, and the country would have felt like that," the prime minister said.
PM Modi said that bringing the white paper in 2014 would have suited him politically.
"'Rajniti' tells me to do that but 'Rashtraneeti' does not allow me to do that and, therefore, I chose 'rashtraneeti' over 'rajneeti'. And when the situation has become strong in 10 years and we can sustain any assault, then I thought I should tell the truth to the people and that is why I released white paper in Parliament," he said.
"When you look at it, you will know where we were and from what situation we have risen and reached here. Now you are seeing the new height of development," PM Modi said.
PM Modi said it is his guarantee that in his third term, India will become the world's third largest economy.
Speaking at the summit, Times Group MD Vineet Jain said the last ten years have been transformative for India with its economy undergoing significant structural reforms, boosting its macroeconomic foundations.
"As we embark on 'Amritkaal', I want us all to envision a futuristic, inclusive, and prosperous society rooted in a human-centric approach. This will be our India.
The next two decades belong to India, where initiatives like Make in India, Create in India, Serve from India, and Start up India converge into a majestic narrative, transforming the nation into a knowledge, innovation, and manufacturing hub," Mr Jain said.
"This vision aligns perfectly with the theme of this year's ET Now Global Business Summit - Disruption, Development, Diversification - an intricate tale echoing your vision to craft India as the Vishwaguru. During this time of change, there is no better guide than you, prime minister, to set the course," he said.
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