Mr Sinha is of the opinion that it is not necessary to project anybody as BJP's Prime Ministerial candidate as done so in the past but could decide on it if and when it is in a position to form the next government.
He was also dismissive about Rahul Gandhi's prospects as a capable Congress contender for the post of Prime Minister asserting he has been proved as a "dud bullet which has failed to fire".
When referred to the perception that the 2014 Lok Sabha elections could be a contest between Narendra Modi and Rahul Gandhi, the BJP leader said it was too premature to say anything about an event slated to take place 22 months from now.
"It is the media which is labouring this point. There is no talk about any Prime Ministerial candidate as yet," Mr Sinha told PTI when referred to the talk that the Gujarat Chief Minister could be BJP's nominee.
"I am not aware of any discussion or decision within the party as to who will be the Prime Ministerial candidate in 2014," the former Union Minister went on to add.
Mr Sinha said a section of media, after the 2002 Gujarat riots, had described Narendra Modi as a "criminal" and "the same media today is saying that he is a Prime Ministerial candidate. So where do we stand?"
When pressed to say as to who else could be the BJP's Prime Ministerial candidate, he suggested that it was not necessary to project anyone.
"You declare a candidate when you feel you will benefit or you don't," he said, adding that in the past the party has gone to the Lok Sabha as well as Assembly polls without projecting anybody in advance.
"BJP will take a decision when the time comes. BJP, in its wisdom, will take a decision at an appropriate time," he said.