Corporate Affairs Minister Veerappa Moily hits back at corporate honchos for criticising government

NEW DELHI: Hitting back at corporate honchos criticising the government over the current state of the economy, Corporate Affairs Minister Veerappa Moily today said "perceptions cannot undo fundamentals" and Azim Premji and Narayana Murthy should speak with optimism.

"We have come out from 2008 depression...of 2010 depression. In 2011-12, our FDI position is very good, you cannot say it is not good. Perception cannot undo fundamentals," Moily told PTI in an interview.

He was reacting to IT major Wipro Chairman Azim Premji's statement that a "leaderless" India's image has suffered internationally. Also, Infosys co-founder N R Narayana Murthy has lamented over the current state of affairs of the economy.

"We could face two world economic Tsunamis...this can be managed if positive perceptions come. Like Premji and Narayana Murthy should become the champions of the country. I require them to speak with that kind of a patriotism, which is necessary," he said, adding, "If what Premji and Narayan Murthy is correct, how can Mukesh Ambani say that they are confident to have a market cap of Rs one trillion crore?"

He added that while it was a fact that many important Bills were awaiting Parliamentary approval, the onus was not on the UPA-led government, but on opposition parties not allowing passage of the Bills.

"Yes, there are certains Bills pending, like GST, DTC, they are pending no doubt and that is beyond our control, because ultimately Parliament has to do it and in Parliament there is confrontation attitude from the opposition, mainly the BJP, they are not allowing these measures to be passed," he said.

For this, Prime Minister Manmohan Singh should not be held responsible or touted as an ineffective leader, Moily added.