Wealth creation is positive, NPA saga should not cloud it: Parrikar

Panaji : Creation of wealth is not a bad thing per se, Defence Minister Manohar Parrikar said on Saturday, adding that one should not let the ongoing saga of non performing assets (NPAs) cloud the merits of wealth-making as a philosophy.

“We have a feeling among us that creating wealth is bad and this gets compounded by the events which are unfolding now. Of course there are wrong practices and NPAs are created due to wrong decisions. But always, wrong part only cannot be focused (on),” Parrikar said urging journalists to also focus on the positive side of wealth creation, while also focussing on bad financial practices.

While speaking at the Goa Biz Fest organised by the state chapter of the Business Network International (BNI), the former Goa chief minister also said that without the processes of wealth creation, creating employment would be difficult.

“Employment is not going to be created unless someone creates wealth. Employment can be created through activities, and activities means business,” Parrikar said.

“It is necessary to create an environment where wealth creation is treated as a welcome change,” he added.

“Business and success were basically a mindset. There was need to create environment in the society and for this creating wealth is a good positive action plan one can have,” he said.

Listing Prime Minister Narendra Modi’s favourite projects of ‘Make in India’, ‘Stand up India’ and ‘Start up India’ as major schemes which would boost the ease of doing business, Parrikar said: “India was a country which was probably very low at the index of ease of doing business.

“But Prime Minister Narendra Modi, who took over charge two years back, has embarked on a journey where both creation of wealth and employment would be an important business for the government,” he added.