Nirmala Sitharaman terms Congress’ era as ‘Andhkaal’
On Thursday while responding to a question in the Parliament, the Union Finance Minister Nirmala Sitharaman termed the Congress’ era as ‘andhkaal‘ and the Bharatiya Janata Party’s (BJP) era as ‘amritkaal‘.
Taking a jibe at the opposition, Sitharaman said, “Let me start with the time of your government in 1991, when India had foreign reserves of just two weeks, that was the ‘andhkaal’ in a real sense, and that compelled you to bring those economic reforms. The double-digit inflation during UPA-1 and UPA-II was indeed the ‘andhkaal’, and the coal scam, 2G scam, Antrix-Devas scam, that all was ‘andhkaal’; all parameters of microeconomics were disrupted during your time and that was the ‘policy paralysis’ era, that was the ‘andhkaal’, you started picking the cherries, but ended-up to have only coal.”
Sitaraman added, “The Indian economy now has become the fastest growing economy in the world with a projected growth of 9 percent for this year, next year and next to next year; whereas the US economy, which is considered as world’s strongest economy, is expected to grow by 4 percent.”
During the address of the Finance Minister, Congress, IUML, and DMK walked out of the Lok Sabha. Irked by the opposition parties’ move, Sitaraman said, “Congress does not have the patience to sit in the House and face the truth. Instead, they run away.”
“The Modi government managed to keep our current account with 0.9 percent surplus even in the pandemic time, whereas during the UPA time there was a fiscal deficit over 2 percent,” she said.
“In the 2008 financial crisis, Indian GDP took a hit of 2.21 lakh crores in terms of reduced gains. In the recent crisis, Indian GDP lost 9.57 lakh crore. Despite the disruption to the supply chain, inflation in 2020-21 was 6.2 percent, whereas, in 2008-09, it was 9.1 percent,” Sitharaman said.
She further added, “44 Unicorns have successfully been identified in the country. They have created wealth and have also become the new showcase of India’s talent and innovation. This has happened between 2020-2021 and they are the symbols of growth.”
Responding to a query on BSNL, Sitharaman said that it’s not once or twice, the UPA government repeatedly “ignored” the investment requirement of the BSNL and that “resulted in a sharp drop” in BSNL’s market share during UPA time.
[With Inputs from IANS]
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In 2014 the incumbent PM abolished 5year plan and replaced it with Niti Ayog!
Now talks of 25 years Plan without any basis for the same!! Budget presented on 1st Feb 2022 was based on “assumptions” (for instance if Oil price hovers between US$70 to 75 per barrel) of Economic Advisor to the PMO. Over seven years of Economic policies of this incumbent government made Indian Economists, Financial experts and commentators useless and irrelevant at the backdrop of party spokes person becoming key ministers and presenting Union Budgets! The incumbent PMO runs the show with the help of bureaucrats who became Ministers and the PM does not trust elected MPs of his own party!