Top 5 Takeaways From PM Narendra Modi's Interview

Prime Minister Narendra Modi in an exclusive interview with moneycontrol on Tuesday spoke about economic challenges in the country and policies that are irresponsible.

These are the 5 takeaways from the interview.

1. Irresponsible Policies

Congress freebies are at an opportunity cost to Karnataka specially leaving huge loans for payment as freebies, robbing the opportunity to create income by incurring capital expenses. This may have deleterious economic impact in terms of transaction cost affecting the growth rate. Its most likely that Karnataka, which earned the name as a financially disciplined state may fall into the trap of financial indiscipline due to indiscriminate freebies drastically increasing revenue expenditure.

On the backdrop of this "freebie culture", PM Modi has been talking about keeping policies in place for sometime now.

The people of India are becoming increasingly aware of the problem with financially irresponsible policies, said PM Modi.

2. Debt Crisis

The Prime Minister has repeatedly said that states are getting immersed in debt because of freebies, and emphasised that the country and governments cannot be run like this.

"In this information age, news about the debt crisis in one country is travelling to many other countries. People are analysing the situation and awareness is spreading. This is helpful for other countries to take precautionary steps to avoid a similar situation in their own countries, with the people's support," said PM Modi.

3. Culture of Freebies

The newly elected Congress leaders in Karnataka have presented budget for FY24 , focussing on five freebies but Bharatiya Janata Party have raises bankruptcy fears.

The long-term implications of freebies destroy not only the economy but also society. The poor pay a heavy price.

4. No-confidence Motion

Responding to the opposition's no-confidence motion in Parliament last month, PM Modi brought up the "culture of freebies" being promoted by the Congress in state elections and said they want a country whose economy is weakened.

5. Promises by Opposition

"They make unrealistic promises to people in elections and development programmes are being stopped in states. They are a guarantee for India going bankrupt, of a drowning economy, double-digit inflation, policy paralysis, instability, corruption, appeasement, dynasty politics, unemployment, terrorism and violence, and guarantee for taking India two decades back," PM Modi said.