Sitharaman tears into job-less growth claims, terming them as whimsical calculations

Finance Minister Nirmala Sitharaman slammed the Congress for launching 'Naam-ke-Vaste' schemes, as she enumerated how meticulous implementation of the same in a new avataar under the Modi government has reached benefits to the needy and helped catapult India as the fastest-growing major economy.

Replying to a discussion on the state of economy in the Rajya Sabha, she called out former finance minister P Chidambaram for "whimsical calculations" to show job-less growth, saying under the Modi government, the working population ratio has increased, schemes such as Mudra loan have created self-employment, and 13.5 crore have been lifted out of "multidimensional poverty".

Dismissing the North-South divide theory, she said profits and the resulting taxes by big companies in states such as Tamil Nadu were a result of sales they make all over the country and not just the state they are registered in. And so it was wrong to say they contribute more to taxes, but get a lesser share than states in the North, which do not have as many big corporations.

On the handling of the economy, she cited reports by western publications to say the Modi government has steered the Indian economy well when the globe was in high turbulence.

Calling the reports a validation, she also cited another report to say that the rupee has been relatively stable, with just 1 per cent depreciation against the dollar this year.

On inflation management, she said the average rate of price rise from 2014-15 to 2023-24 was 5.5 per cent, while inflation hit a high of 7.79 per cent in April 2022. In comparison, average inflation during 2004 to 2014 was 8.1 per cent and from 2009 to 2014 10.4 per cent.

The per capita income or the amount of income earned per person in India has increased from Rs 78,348 in 2013-14 to Rs 115,746 now. In dollar terms, per capita income has increased from $1,438 to $2,389 in 2022-23, she said.

In her reply to the discussion, in which about 60 MPs expressed their views, Sitharaman highlighted the new schemes or those continued from the UPA regime by the Modi-led government.

On the Opposition's criticism that the Modi government just claims credit for schemes started by the previous government, Sitharaman said the UPA had come up with various ‘Naam Ke Vaaste’ schemes which were launched but not executed properly and hence didn’t reach the common man.

Whereas Prime Minister Narendra Modi-led government not only implemented new schemes, but executed them in a way that has made a huge difference to the life of the common man.

The earlier BSBD account scheme was just 'Naam-ke-Vaste' and so were the pension and Jan Aushadhi schemes started during the UPA regime. "...launch it forget it," she said.

The minister stressed that the Modi government has ensured that the benefits of the schemes reach the target beneficiaries, and reeled out data related to the schemes.

On allegations that the Centre differentiates between BJP and non-BJP-ruled state governments, Sitharaman said Prime Minister Narendra Modi never discriminates against any state.

"A chief minister becoming a prime minister ... has never discriminated against any one state. In fact he repeatedly says until and unless all states grow equally, India cannot grow. So someone who believes in that is never going to discriminate against any state," the minister said.

Prior to becoming Prime Minister in May 2014, Modi was three-time Chief Minister of Gujarat.

She also said there are various schemes launched by the Modi government, which did not have an earlier equivalence, and are targeted at serving all sections deserving of government support.

Responding to remarks made by TMC MP Derek O' Brien, the minister said "You may win an election, we may win an election. But what follows soon after is the law and order situation and that’s where you (Derek) are not equivalent to us.".

"When you win an election, that too sitting in power, what follows is lawlessness, mayhem, clashes, sexual assault, and brazen murders in West Bengal," she said, and added even the Calcutta High Court expressed shock.

She further said it was incorrect for former Finance Minister P Chidambaram to say that the Worker Population Ratio (WPR) has not improved.

"This is a whimsical calculation by him, resulting in a misinterpretation on his part," she said, and the Worker Population Ratio was 42 per cent in 2004-05 which fell to 38.6 per cent in 2011-12 under the UPA regime.

Also, youth unemployment rate (between age 15-29 years) has declined to 10 per cent in 2022-23 from 17.8 per cent in 2017-18, while youth LFPR (Labour Force Participation Rate) has expanded from 38.2 per cent to 44.5 per cent.

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