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No change in economic condition that could trigger a stock market surge, now: Rajnath Singh

Interview with BJP president

Virendra Singh Rawat
Bharatiya Janata Party (BJP) President Rajnath Singh, 62, has been campaigning extensively for the party across the length and breadth of the country. Despite opposition from inside and outside the party, Singh stood solidly behind Narendra Modi, the party's prime ministerial nominee. A Lok Sabha candidate from Lucknow, Singh hopes to cash on former Prime Minister Atal Bihari Vajpayee's legacy to win this seat. Virendra Singh Rawat caught up with Singh amid his hectic schedule. Edited excerpts:

Various poll surveys have predicted that the BJP-led National Democratic Alliance (NDA) would emerge the largest coalition after the general elections. If NDA comes to power, will you review or change the current economic policies?
 

If needed, we would certainly review the existing policies for strengthening our economy. New policies will also be framed for this purpose.

While the country's stock market has touched new highs, the rupee too has gained some strength. This could be because of the general feeling that a pro-industry and stable government would be formed at the Centre after polls. What is your take on this?

There has been no visible change in the country's economic condition that could trigger a stock market surge or improvement in the valuation of rupee. In 2001, there was a global economic recession, and all nations were affected. However, the Vajpayee government managed it well with proactive economic policies. To me, it sounds credible that probably the markets are reacting positively to the prospects of a BJP government forming a stable government at the Centre.

Foreign direct investment (FDI) in retail has been a contentious subject. Will your party revisit its position on the issue?

Our stand is crystal clear. We are opposed to FDI in multi-brand retail and there is no question of revisiting our already stated position.

There is a rumour that RBI Governor Raghuram Rajan might lose his job if the NDA comes to power.

The RBI governor will continue in his post. Our party does not indulge in vindictive politics.

The campaign so far has been vicious, with leaders of all parties indulging in personal attacks and name calling. Do you think, such below-the-belt remarks should be avoided by political parties?

The BJP does not indulge in personal attacks on opponents. Opposition parties, which make vitriolic remarks against our leaders, should introspect. I believe such language should be avoided in public discourse.

Uttar Pradesh has a large number of micro, small and medium enterprises (MSMEs). What are your plans for reviving this sector?

Why should we restrict ourselves to UP only and not plan for the entire country? For equitable growth, there should be no regional imbalance and MSMEs can play an important role in our economic growth and job creation.

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First Published: Apr 30 2014 | 12:39 AM IST

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