Manmohan model unleashed India's growth story: Chidambaram

Dismissing allegations that Manmohan-Chidambaram model was responsible for economic slowdown, the Minister told CPI leader Gurudas Dasgupta, "Please do not equate me with the Prime Minister. The Prime Minister is a distinguished economist. I am not. The PM has vast experience, I do not have."

Manmohan model has shown that India can achieve 9 per cent plus growth and how to reduce fiscal deficit to below 3 per cent of the GDP, Chidambaram said debunking the Dasgupta's contention that the economic liberalisation was the root cause of all ills facing the country.

"Do not blame the model, if you blame the model...Manmohan model must also be credited for making India the second fastest growing economy in the world", Chidambaram said, winding up the debate on Banking Amendment Bill.

Dasgupta contended that economic liberalisation initiated by Singh was responsible for growing poverty and economic slowdown.