india

Updated: Dec 19, 2018 08:40 IST

Former Prime Minister Manmohan Singh on Tuesday said the country needs a “strong and independent” central bank which has to work in “close cooperation” with the central government.

“I do hope and pray that government and the RBI find a way to work in harmony,” said the former Prime Minister , who had also served as the RBI governor from 1982 to 1985. He had earlier termed RBI governor Urjit Patel’s resignation “very unfortunate” and a “severe blow” to the country’s economy.

Patel, who had a run in with the government over autonomy of the central bank, resigned from his job on December 10, citing personal reasons. His resignation came four days ahead of a crucial meeting of the board of the central bank that could have discussed issues of simmering differences with the government.

Manmohan Singh who was ridiculed for his silence by his political opponents also hit back by asserting that during his 10-year tenure in office, he was “not afraid” of talking to the press.

Watch | Centre, RBI need to work in harmony: Manmohan Singh

Speaking at the launch of his book Changing India, a compilation of his speeches and papers in six volumes, he said, “People say I was a silent Prime Minister. I think these (six) volumes (of his book) speak for themselves. I wasn’t the PM who was afraid of talking to the press. I met press regularly and on every foreign trip I undertook, I had a press conference on board or immediately on return.”

His statement was an obvious dig at Prime Minister Narendra Modi who is yet to host a press conference since taking charge.

“I have been termed as an accident prime minister of the country, but I think that I was also an accidental finance minister,” Dr Singh said after the launch.

This is not the first time that the former PM has taken a jibe at PM Modi. In November at a book launch of Congress leader Manish Tewari, he said, “My advice to the prime minister is that he should exercise due restraint becoming of the office of the Prime Minister.”

Congress president Rahul Gandhi had, earlier this month, criticised PM Modi for never addressing a press conference in his tenure, and suggested he should try addressing reporters as it is fun to be asked questions.

Singh’s criticism of the current government also extended to the tiff that the BJP-led NDA government has had with the last RBI chairperson Urjit Patel over issues of autonomy of the central bank and the revision of the GDP back-series announced by the federal think tank NITi Aayog, which lowered the growth rate during the time Dr Singh was PM.

Also read | Won’t allow PM Modi to sleep till farm loans written off: Rahul Gandhi after 2 Congress states waive loans

On the GDP numbers, he said, “I am not an expert on GDP statistics, but I think it’s not proper that while releasing GDP numbers, they should not be done by people with no expertise. Deputy chairman of the planning commission (NITI Aayog) was announcing these numbers that reduced the credibility of the exercise.” The Congress has accused the government of “manipulating” GDP data of previous years in an attempt to undermine India’s growth during the UPA rule.

On the farm loan waiver announced by the newly sworn-in Congress governments in Madhya Pradesh and Chhattisgarh on their first day in office, Manmohan Singh said, “We have to honour the commitment that was part of the election manifesto.

“I haven’t studied the impact but since commitment has been made so we have to honour it. These are commitments made to people and what has been promised, has to be delivered,” he said.

Earlier at the book launch, Manmohan Singh said that India has been immensely kind to him and he “will never be able to repay this debt”

“Life has been a great adventure and enterprise and I have no regrets,” he said.

On India’s prospects, he said, “Despite all the hiccups and hurdles, I have no doubt that India will get its action right, despite be difficulties, this country is destined to be a major powerhouse.”

“The emergence of India as global power is one such idea whose time has come,” he added.

Read | Corruption at peak: Manmohan Singh stings PM Narendra Modi on notes ban, CBI vs CBI