Don’t single out PM for economic woes: Ratan Tata

Tata Group Chairman Ratan Tata has come out in strong defence of Prime Minister Manmohan Singh, saying the architect of 1991 reforms should not be singled out for the country’s current economic woes.

Tata said the attack on the prime minister for high inflation, slower economic growth and low investors’ confidence was “grossly misdirected”.

“Attacks on the architect of 1991 reforms which brought us prosperity is sad and unfortunate. It’s wrong to single out the PM for inflation, low investment confidence and slow growth,” Tata said on social networking site twitter.

At the same time he urged the prime minister to work decisively to restore government credibility and place the country back on the high growth path.

“Now is the moment in time when our PM must break convention, restore government credibility, place the country on a growth path once again by implementing promised reforms, removing roadblocks to growth and controlling crony capitalism,” he said.

Prime Minister Manmohan Singh has been facing a barrage of criticism from inside and outside the country for not doing enough to push forward the promised reforms.

The US-based Time magazine recently ran a cover story terming Manmohan Singh an “under achiever”. The UK-based daily The Independent said the prime minister appeared to have no influence over his own cabinet.

Top industrialists like Wipro chairman Azim Premji and co-founder and chairman emeritus of Infosys Narayana Murthy have criticised the prime minister for the current economic woes.