India headed by a visionary PM: FMIndia & World

April 23, 2012 09:45
India headed by a visionary PM: FM

With growing controversies that the nation is being dominated by bureaucrats and the politicians of the country are busy in safeguarding their interests, FM lashes out.

The Indian Finance Minister Pranab Mukherjee on Sunday in Washington protested strongly on the controversy that the national leaders were busy with internal controversies. The FM was attending spring meetings of International Monetary Fund (IMF) and the World Bank. In his retort to the media the FM said that "very powerful, strong and acceptable Prime Minister (Dr. Manmohan Singh)," is at the helm of affairs. The FM summarily rejected a comment by a corporate that a "vacuum" was distancing the nation from more global investments.

"How can I comment on the perception of some organization or institution," he asked when speaking to reporters here when asked about a letter from the US-India Business Council (USIBC) to the White House. "I can only state the fact that there is no vacuum in the leadership of the union government." Adding further, "there is a very powerful, strong, acceptable prime minister,"

The retort seems to have value aftermath to the report given by Harold 'Terry' McGraw III, USIBC chairman and CEO of McGraw-Hill companies to the President Barack Obama's deputy national security adviser Mike Froman. In his report McGraw is quoted as "What is apparent is that political power is devolving to strong state leaders, and the vacuum at the centre is allowing forces in government to move on issues that are harmful to India's investment climate.”

During his stint at the meeting with the US Treasury Secretary, the FM had also allayed the fears of American investors over the measures taken in the recent budget. The FM has specified the terms of retroactive tax on mergers which are within six years old and beyond cannot be reopened. (With inputs from internet- AarKay)

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