Venkaiah Naidu wades into debate on economy, says no gain without pain

WION Web Team
New Delhi, Delhi, IndiaUpdated: Sep 29, 2017, 05:29 PM IST

File photo of Vice President Venkaiah Naidu. Photograph:(Zee News Network)

Vice president Venkaiah Naidu on Friday waded into the debate on the state of the Indian economy.

The country, he said, will have to bear temporary pain for long-term gain. 

Naidu added that the global economy has slowed down and even China is witnessing a slackening of its economy. But that, in the midst of all the chaos, India still remains a bright spot.

"The temporary things... There will be some problem. Of course, you have to take the temporary pain for long-term gain. I am not getting into this arena. There are other people who are debating, using their skills, forgetting what they have done, what has to be done, what needs to be done," PTI reported Naidu as saying.

Naidu, who has served as urban development minister, added that there has to be a broader consensus as far as foreign and economic policies are concerned. 

Naidu was speaking at a book launch -- Securing India the Modi Way -- in New Delhi. 

There has been tremendous criticism of the handling of the Indian economy, which has contracted over six consecutive quarters, in recent days. 

Most of that crtiticism has been directed at finance minister, with the blame for the "shocks" of demonetisation and GST also being laid at his feet.