Ahmedabad, July 29: Prime Minister of India, Manmohan Singh recently claimed, "money does not grow on trees." Replying to the PM's remark, Gujarat Chief Minister Narendra Modi explained how money indeed can grow in several farms and factories of the country. The CM emphasised on the need of "correct leadership" which, according to him, can lead the country to overcome its economic obstacles.
Attending Zee Business India's Best Market Analysts Award event organised on July 24, Modi recalled the economic condition of Gujarat when he took over as CM of the state. Modi said Gujarat had a revenue deficit of Rs 6,700 crore. However, the state managed to have a revenue surplus.
The Gujarat CM, who recently has been elevated as the chief of BJP election campaign committee, expressed grief while stating that India, which was revenue surplus inspite of 1200 years of dominance by the British, became revenue deficit now. Revenue surplus is the excess of Revenue Receipts over Revenue Expenditure. It is the opposite of Revenue Deficit.
Speaking at the event, the CM also recalled the good work done by the then Prime Minister Atal Bihari Vajpayee and NDA Government. Criticising the UPA government-led by Manmohan Singh, Modi claimed the present has been undoing the good work done by Vajpayee.
Modi also mentioned that the country had managed to curb price rise even after the economic sanctions due to the nuclear testing. The CM, however, claimed that the lack of optimism will give way to hope and our economy will be bounce back once we start taking the right decisions.