Nirmala Sitharaman dismisses Rahul Gandhi's ‘economic tsunami’ warning, says he is ‘undermining’ India's achievements

Union Finance Minister Nirmala Sitharaman on Sunday hit out at Congress leader and Leader of Opposition (Lok Sabha) Rahul Gandhi, stating he was "undermining" the accomplishments of India and its people and "ignoring" the country's progress and achievements despite major challenges such as the COVID-19 pandemic and the conflict in West Asia.

According to PTI, Sitharaman also asserted that there is no impending crisis in the country, contrary to Rahul Gandhi's portrayal of the situation, after he warned of an “economic tsunami” more than a week ago.

"Every time the Congress's leader of opposition speaks in the Lok Sabha, it is only to decry everything, undermine the achievements of the people of India, thinking that he is undermining Prime Minister Modi or the central government," she mentioned.

She was speaking to party workers at the Viksit Bharat Sankalp Samavesha held in the city to mark 12 years of BJP governance under the leadership of PM Modi.

According to Sitharaman, Gandhi repeatedly claims that the country is on the verge of collapse within a matter of weeks. She said that the LoP continues to predict a major crisis, but maintained that no such disaster is awaiting India.

"On the contrary, quarter after quarter, year after year India is the fastest growing economy," she said.

She said that the claim of India being the world's fastest-growing economy was not being made solely by the central government, but was reflected in the country's GDP figures. She also noted that the International Monetary Fund (IMF) had acknowledged India's economic growth.

The Union minister further alleged that Rahul Gandhi's continued attacks could create a misleading impression among citizens regarding the country's economic health.

Sitharaman remarked, "Yet the Leader of the Opposition and his party continue to undermine India. They try to make people believe that India is in trouble. Even amidst crises in West Asia and disruptions around the Strait of Hormuz, India continues to move forward."

Highlighting the effects of geopolitical tensions on fuel availability and international trade, Sitharaman said the challenges went beyond changes in crude oil and LPG prices.

She stated, "These challenges affect not only crude oil prices and LPG prices but also global shipping. Shipping companies hesitate to send vessels through conflict zones. Insurance premiums increase because ships risk being attacked. Whether a vessel is empty or carrying crude oil, insurance costs rise significantly, and those costs ultimately have to be paid to ensure supplies reach the country."

Despite these global pressures, she asserted that the Modi government had successfully maintained uninterrupted supplies throughout the period.

"Unfortunately, none of this seems to matter to the Leader of the Opposition," Sitharaman mentioned.

Urging BJP workers to spread awareness about the government's accomplishments among the public, Sitharaman said the Viksit Bharat Sankalp Samavesh formed part of a broader nationwide campaign.

“India fought for its independence in 1947. It was a great movement-the freedom movement. For us to attain economic freedom, self-respect, self-reliance and true Swaraj, we must work towards Viksit Bharat (Developed India). Therefore, this Sankalp Samavesh is a commitment towards that movement. All of us must participate in it,” the Finance Minister said.

She stated that the BJP's 12 years in power under PM Modi had been characterised by a focus on both development and welfare. As examples, she pointed to the decline in multidimensional poverty, increased access to tap water connections, wider sanitation coverage, the distribution of free LPG connections, and the implementation of food security schemes.

"Twenty-five crore Indians have come out of multidimensional poverty. Extreme poverty has declined from 29.17 per cent in 2013-14 to about 11.28 per cent. Twelve crore household toilets have been built under rural sanitation programmes, achieving near-universal coverage," Sitharaman claimed.

"From one side, a massive economic tsunami is coming, prices are rising and this is just the beginning. India will witness such an economic crisis that you have never ever witnessed in your lives. This is happening and no one can stop this. On the other hand, there is an institutional revolt happening within India's system ... the Election Commission (EC) is fully controlled...," Gandhi alleged.