The Aryavarth Express
Agency (New Delhi): On Tuesday, the Congress criticized Finance Minister Nirmala Sitharaman for questioning the financial feasibility of their election promises, including providing Rs one lakh annually to poor women and youth. Congress General Secretary Jairam Ramesh accused Sitharaman of overseeing record unemployment and rising prices while defending the Congress’s proposed schemes.
In a post on X, Ramesh highlighted Sitharaman’s skepticism towards Congress’s poll guarantees, pointing out that she dismissed these benefits for 99% of the population as “lofty,” yet did not question the Rs 16 lakh crore loan write-off for the prime minister’s “cronies” or the Rs 2 lakh crore corporate tax cut benefiting 0.7% of the largest firms.
Ramesh assured that the schemes promised by the Congress would be effectively implemented by the INDIA bloc government starting next month. He criticized the Modi government’s tendency to label policies aimed at the majority as ‘revdi’ while ignoring substantial financial benefits given to a select few. He stated, “The good news is that these anti-people policies will end on June 4, 2024. INDIA jeetega aur Bharat badlega.”
Sitharaman had previously questioned the practicality of the Congress’s Nyay Patra manifesto, labeling its proposals as “lofty promises” that could strain fiscal resources. Ramesh countered this by highlighting that during the UPA’s tenure, GDP growth, investment, and job creation were higher compared to the NDA’s performance. He also noted that the UPA left office with a lower fiscal deficit and national debt as a percentage of GDP than the current government.
Referring to the BJP’s past scaremongering in 2004, Ramesh reminded that the UPA’s subsequent tenure delivered India’s best economic performance despite the global financial crisis of 2008. He quoted former US President Barack Obama, who acknowledged Prime Minister Manmohan Singh’s crucial role during the financial meltdown.
Ramesh criticized Sitharaman’s dismissal of vital schemes like Mahalakshmi, which proposes Rs 1 lakh for every poor household, and Pehli Naukri Pakki, which promises Rs 1 lakh apprenticeship for every graduate or diploma holder under 25. He accused Sitharaman of ignoring significant issues such as record unemployment and rising prices, highlighting her insensitive remark about not eating onions amidst soaring food prices.
Furthermore, Ramesh pointed out that Sitharaman did not consider a Rs 16 lakh crore loan write-off for the prime minister’s allies or a Rs 2 lakh crore corporate tax cut for the largest firms as “lofty,” despite these actions leading to no new investments and adversely affecting MSMEs.
On Monday, Sitharaman had questioned whether the Congress had considered the cost of implementing their social welfare schemes, including giving Rs 1 lakh to women from below-poverty-line families. She emphasized the need for fiscal responsibility and transparency, accusing the Congress of making unrealistic promises without clear funding strategies.
Sitharaman also challenged Congress leader Rahul Gandhi to explain how the party would finance its ambitious schemes without significantly increasing taxes or borrowing heavily, which could harm the economy. She demanded answers on how many existing welfare schemes the Congress would shut down to accommodate their “khata khat” promises.
Last month, during a poll rally, Rahul Gandhi promised to transfer Rs 1 lakh to one woman from every poor household if the Congress won the elections. Sitharaman called for clarity on how these promises would be fulfilled without jeopardizing the country’s fiscal health.