On government debt, India is much better placed than its peers, says Nirmala Sitharaman

Nirmala Sitharaman said “It is important for us to appreciate as Indians that our people have dealt with the pandemic and its waves.”

Union Finance Minister Nirmala Sitharaman, on August 1, 2022, replied to the debate on price rise in the Lok Sabha.

Ms. Sitharaman said “I find it was more a discussion on the political angles of price rise rather than actually data-driven concerns. That is why my answer will also be slightly political... It is not to hurt any member, at the same time, if anyone feels am giving a political speech, that political speech will have to be heard.

“I have no problem with interruptions being made in between, Sir. Let us please be in this House looking at India today, compared to what is happening in the rest of the world. Just two-three highlights will tell you where India is...”

While replying to the price rise in the Lok Sabha, Union Finance Minister said “Whether it was in 2008 or before that, we have never seen a calamity of this kind, and coming out of the pandemic, even as all of us were trying to make sure that people are given that extra help, I fully credit the people of India... even against adversity, we are able to stand up and be recognised as the fastest growing economy. And this is not my assessment but a repeated one made by agencies like World Bank and IMF for the last two years. Each time they have reviewed, and downgraded global growth, India has also been reduced in terms of expected growth, but even after that we remain the fastest growing... If it was at 8.2%, it may now be at 7.4%. But we remain at the highest.”

She said “It is important for us to appreciate as Indians that our people have dealt with the pandemic and its waves, because of various steps taken by the govt and the RBI, we are remaining much better than most other countries.”

Responding to interruptions, Ms. Sitharaman said “It is exactly this that I am trying to address. It is not that the country doesn’t have problems and we are trying to address them, but even as global agencies are saying, this country is suffering from this that country is suffering from those problems, a third country is suffering with something else, and India is like this. I am quite convinced of every input given and I think it is my duty to respond, but even before hearing me, if there’s mockery, I would reply to those who mock rather than those who like to hear.

“When there can be interruptions that are serious, and when there are mocking tones coming from there, I reserve my right to reply to those. Speaker Om Birla pleads afresh to MPs not to pass remarks.”