New Delhi | Jagran News Desk: Prime Minister Narendra Modi on Tuesday defended his government's decision to monetise "unused and under-utilised" assets, saying it helped India revive its economy following the COVID-19 pandemic. Inaugurating a statue of Sardar Vallabhbhai Patel at the office of the Comptroller and Auditor General of India in New Delhi, PM Modi called the CAG a "heritage" of the country, saying every generation should cherish it.

He said that the "CAG vs government" had became the mindset of people in India but that has changed now. The Prime Minister, however, said that the CAG needs to "study good practices and systematic learnings of the pandemic era", adding that strong and scientific audits will make the country's system strong and transparent.

Here are the top quotes from PM Modi's address at the CAG office in New Delhi:

- There are very few institutions that become stronger, more mature and more relevant with the passage of time. Most institutions lose relevance after some decades. But CAG is a heritage and every generation should cherish it. It's a huge responsibility.

- There was a time when audit was seen with suspicion and fear. CAG vs Government became common mindset of our system. Sometimes officials used to think that CAG sees faults in everything. But today mindset has been changed. Today audit is considered an important part of value addition.

- While assessing the work of the Government, CAG has the advantage of an outsider viewpoint. We make systematic improvements with the help of whatever you tell us, we see it as cooperation.

- Due to the lack of transparency in the country's banking sector earlier, various practices used to take place. As a result, banks' NPAs kept increasing. You know very well the work done to brush the NPAs under the carpet earlier.

- But we presented the reality of the previous governments, the actual situation, honestly before the nation. We will be able to find out a solution only if we identify the problems.

- We took brave decisions of monetising unused and under-used elements. As a result of those decisions we have a reviving economy - that is being discussed and welcomed across the world.

Posted By: Aalok Sensharma