Did not expect this from Manmohan Singh: Nirmala Sitharaman
India Today
Nirmala Sitharaman said she had great regard for Manmohan Singh and had not expected this from him. The former PM attacked the central government, saying their short-sighted policies have caused people to suffer from a falling economy, rising inflation and unemployment.
Hitting back at former prime minister Manmohan Singh for his criticism of the Modi government's handling of economy, Finance Minister Nirmala Sitharaman on Thursday said he is more remembered for having brought India to "fragile five" and rampant inflation during his term.
She also referred to recent revelations about former NSE chief Chitra Ramkrishna having taken guidance of a 'Himalayan Yogi' in running the country's biggest stock exchange and said Singh was not even aware how the bourse was being run for so long when he was in power.
"I have great regards for you (Singh). I did not expect this from you. And I am hurt," Sitharaman said, wondering if he is suddenly speaking about economy because of "electoral consideration" of the Punjab assembly polls.
She compared data on export, FDI and inflation during the Modi government with the Singh's dispensation to assert that economic indicators are much better now. He is better remembered as a prime minister under whose term inflation remained in double digit for 22 months straight and who saw capital fly out of the country, the minister said.
She also accused those attacking the Modi government over inflation for spreading confusion over the issue.The BJP dispensation takes immediate measures to control prices of essential items, and that is why inflation figures have been much better under its term than the Congress-led UPA government.
The Reserve Bank of India had on February 10 said inflation based on consumer price index (CPI) is expected to come well below its upper tolerance level, at 4.5 per cent, in the next fiscal year beginning April 2022, helped by fresh crop arrivals, supply-side interventions, as well as prospects of a good monsoon.
Noting that inflation has reached levels in developed economies of the US and Europe not seen in decades, the finance minister said India is also impacted by global scenario.
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