The Congress party has strongly criticized Finance Minister Nirmala Sitharaman’s remarks, in which she blamed the opposition, particularly the Congress, for deterring private investment in India. The party labeled her accusations as “sheer desperation” and argued that the real reasons for sluggish private investment lie in the government’s policies and actions, not in any opposition propaganda.
BulletsIn
- Finance Minister Nirmala Sitharaman accused the opposition, especially Congress, of spreading propaganda to deter private investment in India.
- Sitharaman suggested that a conspiracy was being carried out to damage India’s image and discourage foreign investors.
- Congress responded by calling Sitharaman’s remarks an act of “sheer desperation.”
- Jairam Ramesh, Congress general secretary, criticized the government for the sluggish growth of private investment, despite measures like steep corporate tax cuts.
- Ramesh argued that private investment decisions are influenced by government actions, not opposition rhetoric.
- He listed erratic policy-making, including demonetization, GST rollout, and the COVID-19 lockdown, as reasons for the decline in private investment.
- Ramesh also pointed out rampant cronyism and the increasing concentration of wealth among a few oligopolies as deterrents to investment.
- The use of government agencies like ED, IT, and CBI to intimidate businessmen was cited as another reason for the fear of investing in India.
- Sitharaman, in her Budget 2024-25 discussion, mentioned that India’s social fabric, parliamentary traditions, and economy are under attack.
- She warned that instability and anarchy in the country could hinder India’s progress towards becoming a developed nation (Viksit Bharat).
