Country in grip of pessimism due to 'policy paralysis': Modi

He said the Centre's policies "lack urgency or seriousness" in tackling economic crises and thus the "sense of pessimism" in the 12th Plan.

"There is a policy paralysis, intellectual bankruptcy and lack of leadership in the country because of which the country was experiencing stagnancy. We are going on the path of negative growth," Modi told reporters at the 57th National Development Council (NDC) meeting here.

He said when the entire world was looking at India in the context of development, there is sense of pessimism from the ones who are leading the nation making it difficult to move forward.

In his speech at the meeting, Modi said, "It seems that there is no urgency or seriousness in tackling economic crises facing the country. There has been a virtual lack of direction in the macro-economic management of the country."

Attacking the government for lowering the growth target for the 12th Plan, Modi said though the target of 9 per cent GDP growth, talked about last year, appeared ambitious, "it was not impossible to achieve if we had the political will to do what is necessary".

"In this context, it is painful to note the unmistakable sense of pessimism in the 12th Plan document...Significantly lowering the growth targets of the 12th Plan will further add to the mood of despondency and pessimism in the country and cast increasing doubts on the sustainability of the India Growth Story," he said.

Modi sought to project the Gujarat model of development by listing out the initiatives taken by him in various sectors including agriculture, urban development and decentralised planning.

Modi, however, evaded questions on whether he was ready to lead the nation.