New Delhi, Aug 24 (IANS): Credibility is currency, when it comes to the media, and a witch hunt cannot substitute investigative journalism, Prime Minister Manmohan Singh said Saturday.

Speaking at the inauguration of the National Media Centre here, the prime minister said the exponential growth in India's media sector began during the 1990s, and expressed confidence that the media would not be found wanting in efforts to consolidate India as an inclusive, progressive society.

"A witch hunt is no substitute for investigative journalism. At the end of day, credibility is media's currency," the prime minister said, adding that the spirit of inquiry should not lead to calumny.

He said the media was among the principal beneficiaries of the wave of economic reforms introduced in the country, and advancements like the internet, the telecom revolution, low-cost broadcasting and social media were inconceivable just two decades ago.

The National Media Centre in central Delhi has modern infrastructure and will serve as the communication hub of the government. It is likely to house the Press Information Bureau as well. It has a hall for press conferences, and workstations for media people.