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On his way back from the G20 summit in St Petersburg, Prime Minister Manmohan Singh answered mediapersons on board. He said he had pointed out the unintended consequences of unorthodox monetary policies being pursued by the US and the Euro zone. And that he didn't see an immediate concrete action in this regard. Edited excerpts:
What are the important takeaways for India from the G20?
G20, at the international level, is an essay in persuasion about good practices. The Leaders' Declaration and the Action Programme reflect our concerns that the world economy is not in good shape, that all countries who have influence in global affairs must work together to revive the growth process. In particular, we have been arguing at Los Cabos that infrastructure development is a commodity which can contribute to revival of growth, as well as acceleration of the development process. And that is reflected in the Action Programme and also in the statements made by the president of the World Bank that they are working on a world infrastructure financing facility. If that comes about, it will certainly help us greatly.
This is a question on the 'unconventional monetary policy' and how it should be tackled because of the impact? The final declaration clause 14 seems to suggest that central banks of advanced economies will continue to be dictated by domestic considerations, including price stability? Did your point of view find resonance in the G20. And what can we expect as far as rollback tapering is concerned?
There was widespread appreciation of the point I made on the unintended results of unorthodox monetary policies being pursued by the US and the Euro zone. But, I also said I don't see immediate concrete action because central banks are the creation of their domestic legislations, some value their independence, some also have a limited mandate. But overall there was a general appreciation that when it comes to consultations on global economic policies, macro-economic policies, for example, in the mutual development process, the countries should be discussing how monetary policies are being shaped, what are the concerns and how we can soften the impact on other countries.
Exactly three weeks from now, you will be in New York for the UN General Assembly (UNGA), the possibility of a meeting with your Pakistani counterpart has been a matter of intense speculation. What are the prospects of such a meeting taking place on the sidelines of the UNGA, specially since there is a view in India you should avoid meeting Sharif?
I have always maintained we can choose our friends, but we have no choice with regard to our neighbours. And, therefore, under normal conditions, I would be happy to meet Prime Minister Nawaz Sharif, whom I respect, who has said the right things about how relations between our countries should evolve. But, there are certain harsh realities on the ground. If the terror acts do not stop; if those who voice terrorist thoughts move about freely; if there is no significant progress in bringing the culprits of the Mumbai massacre to book; that I have to factor in before arriving at a final decision.
You have charged the chief Opposition of obstructing Parliament, and hurting the economy. Do you believe you yourself have sufficiently answered the many questions the Opposition raised about your government and you in person.
I try to answer all questions that have been raised. I have no desire to hide anything from Parliament, whether it is the coal matter, or other matters. I have been as forthright as I can. I made a long statement on the coal matters, in the previous session of Parliament. I was not allowed to read that statement, but I did issue that statement. It is a public document. So I am an open book.
Will you go in for an alliance with Mamata Banerjee in the coming Parliamentary elections in 2014?
In politics there are no permanent enemies and permanent friends. And in many ways, a week in politics is sometimes an unusually long period. So, I don't rule out alliances. Mamata Banerjee was a very respectable member of the Congress at one time. As the leader of the Trinamul also, we were very happy to have her in our government. We would very much like like-minded, secular-minded persons should work again to give our country's polity a thrust in favour of secular elements.
Do you think it is possible for you to go ahead for a third term, because many in the Congress would like to see Rahul Gandhi to lead the party. Also, why don't you go ahead and say you are ready for questioning, as you did on the 2G issues?
I have not prevented anybody from looking at my conduct. As far as your first question is concerned, I have always maintained that Rahul Gandhiji would be an ideal choice for the prime minister's post after the 2014 election. I would be very happy to work for the Congress under the leadership of Rahul Gandhi.
Is the government going to consider a separate Vidarbha or division of Maharashtra?
There is no such proposal under consideration.
