Finance Minister Nirmala Sitharaman made a sharp reply to former Prime Minister Manmohan Singh yesterday for criticizing the current government’s economic and foreign policies.
Singh, in his video, said,
The BJP government lacked an understanding of economics due to which farmers, women, entrepreneurs, and students are facing problems.
Sitharaman swiftly rebutted the attack by calling him a PM who is only remembered for the ‘notorious status of India being brought to a fragile five economy’ and asked him whether he could only speak up for electoral purposes.
In an interaction with journalists, hours after Singh released his video message, she said in Punjabi, “A Prime Minister who is most remembered for having brought India to a fragile five economy, a prime minister who could not control inflation for 22 months continuously, a PM who saw capital fly away from this country – how come this (former) PM today all of a sudden remembered about the Indian economy? Is it only for the Punjab elections?”
The finance minister then pointed out that the average inflation during 2013-14 years was 9.5% compared to 5.23% now. She proceeded to quote GDP numbers stating that the value at market prices stood at Rs 232 lakh crore currently, whereas it was Rs 110 lakh crore seven-eight years ago. Also, Foreign Exchange Reserves were at $630 billion, from $275 billion seven years ago.
Manmohan Singh said, “I am satisfied that I was called ‘Maun Mohan’, and false allegation of corruption was levelled against the government but the nation remembers my good work and the BJP has been exposed.” Singh targeted the Central government for its failures on farmers’ protests, price rise, unemployment, and foreign policy.
Delivering the message in Punjabi at a press conference in Chandigarh, ahead of the Punjab elections on February 20, Singh called out the BJP government for not accepting its failures but just blaming the first Prime Minister, Jawaharlal Nehru.
Singh said that BJP’s nationalism was based on the British policy of divide and rule. Singh made an appeal to the people of Punjab to vote for Congress to address the challenges of Punjab’s development, farming, and unemployment.
“We never divided the country for political gains. We never tried to put curtains on the truth. Never allowed the country’s prestige to be lowered,” he said.
Nirmala Sitharaman said she did not expect such an attack from ’a learned Prime Minister’. “Dr. Manmohan Singh, while I have great regards for you, I did not expect this from you. Can electoral considerations make a learned Prime Minister of this country talk ill of a country which is growing at this pace, the fastest-growing economy post-pandemic?” the Finance Minister said.
Sitharaman recalled the alleged scams of UPA time, including at the National Stock Exchange (NSE), calling it enough assessment of the UPA government and his incapability as a Prime Minister.
She also called the methodology and criteria of the Oxfam India Inequality Kills report flawed. The report in question indicated a widening gap between the rich and poor.
Sitharaman argued: “When a poor household is able to go to a bank and borrow, thanks to financial inclusion due to Jan Dhan Yojana, it is able to increase its consumption. This improves the living standards of their family. It allows them to borrow for education and grow their business and increases their capacity to earn more and consume more. That’s why taking liabilities is a flawed methodology and does not measure the actual impact of these so-called ‘liabilities’ on actual welfare and wealth.”
