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Home > Business > Business Headline > Report

India was never a rich country, says FM

BS Reporter in Lucknow | August 27, 2007 10:58 IST

India was a country where rivers of milk and honey used to flow, is a great historical myth, believes Union Finance Minister P Chidambaram.

"The poverty has always been there in India and whoever propounded the myth about India being a rich country is wrong," he said.

The old teaching that India was a country of milk and honey about five centuries ago was factually incorrect, Chidamabaram said. "Poverty was there and is still there in India, though prosperous pockets existed here and there," he said.

The finance minister said the books that propounded the glorious past of India were liable to be burnt.

Chidambaram was here in connection with the promotion of his book 'An outside view  - Why good economics work for everyone' at an interactive session organised at a local book store in Lucknow.

The finance minister, however, expressed great optimism on poverty alleviation. "I would like poverty of India to be removed in my lifetime," he said.

Extracts of his book, considered to be an authentic commentary on Indian economy and reforms process, were also read out at the select gathering.

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