I would not confuse Manmohan Singh's record as finance minister with Manmohan Singh's record as prime minister. It was P V Narasimha Rao who started the reforms and left it to Manmohan Singh to follow the details. When he had to lead the nation on the economic front he inherited the booming economy of the NDA. He has decided that 'no-decision-making' is the best course of survival. He stopped taking decisions on the economic front.

Around 2004, in their early years, he took credit for the entrepreneur-driven economy. But as soon as the economy weakened, he has run out of ideas.

Generally people do say that Prime Minister Singh is not corrupt and is quite dignified.

I can tell you what Charan Singh told his friend who brought some political worker and introduced to him saying that Chaudhrysaab, this man is honest and a thorough gentleman. Charan Singh retorted, 'Bhali to meri gaay bhi hai. Roz khub chara kha ke vapis ghar aa jati hai per main karun kya kambhakt doodh nahin deti? (Even my cow is very nice. Everyday she eats lots of fodder and returns home, but what do I do with her if she doesn't give me milk?).'

It is alleged that on the issue of economy and foreign affairs you have stolen the Congress's agenda and ideas.

I don't think so. The UPA had three world famous economists. The dream team was daydreaming. When the economic slowdown was entering India they were dreaming. They did the opposite of what they should have done. They started sucking liquidity out when the foreigners were withdrawing money. When the slowdown was at its peak in December 2008 you were without a finance minister. There is no single decision taken by the government to change the policy.

Secondly, see the Congress campaign of josh claiming that jobs are coming. P Chidambaram has said that they have sharper IQ, but I think they don't have a heart. When people need compassion, then people like Chidambaram have to answer. They are a bunch of heartless characters who are immune to the sufferings of the people.

In a slowdown situation everyone is pinched due to pay cuts, and you are being told that there should be enthusiasm because jobs are coming.

I think the Congress's entire campaign is a Marie Antoinette-like response. She said if you don't have bread then eat cake. People are having a fear of losing their job and you want them to be enthusiastic.

Once economist Jagdish Bhagwati told me that good management of the national economy is inversely proportionate to the number of economists it has. Narasimha Rao and (EM>Atal Bihari) Vajpayee were not economists but they led India's economy better than Manmohan Singh.

India's growth rate during the UPA regime was not due to the UPA, it was in spite of the UPA. In 2004, if the growth rate was good, it was because of the impetus of the NDA's measures.

Image: P Chidambaram at a news conference in New Delhi, April 7, 2009. Photograph: Adnan Abidi/Reuters.

Also see: In Guna the legacy continues | India Votes 2009

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