India fastest-growing economy, no crisis ahead: Sitharaman

Finance Minister Nirmala Sitharaman accused Rahul Gandhi of consistently portraying India negatively and ignoring its economic progress. Highlighting growth, poverty reduction, welfare schemes and digital infrastructure, she said India remains resilient despite global challenges and continues advancing towards Viksit Bharat 2047

Bengaluru: Union Finance Minister Nirmala Sitharaman on Sunday slammed Congress leader Rahul Gandhi, accusing him of “undermining” the achievements of India and its people while targeting Prime Minister Narendra Modi and the Centre.

She said Rahul was “ignoring” India’s achievements even in the face of major crises like COVID and the conflict in West Asia.

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Sitharaman clarified that there is no crisis awaiting in the country as is being portrayed by Rahul Gandhi. “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 said.

She was addressing the party functionaries during the Viksit Bharat Sankalp Samavesha in the city to celebrate the 12 years of the BJP rule in the country under the leadership of PM Narendra Modi.

According to her, Rahul Gandhi constantly says that everything is going to crumble in the next few weeks. The LoP keeps saying that there is a big disaster awaiting, but there is no disaster awaiting India.
“On the contrary, quarter after quarter, year after year India is the fastest growing economy,” she underlined.

She said it is not the central government, which is claiming that India is the fastest-growing economy, but the GDP numbers were indicative of this. The International Monetary Fund (IMF) also said India was growing, she added.

The Union minister alleged that repeated criticism by the Congress leader could create a false perception among citizens about the country’s economic condition.

“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.”

Explaining the impact of geopolitical tensions on fuel supplies and global trade, Sitharaman said the challenges extended beyond fluctuations in crude oil and LPG prices.

“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 headwinds, she emphasised that the Narendra Modi government had ensured uninterrupted supplies despite such challenges.

“Unfortunately, none of this seems to matter to the Leader of the Opposition,” Sitharaman said. Calling on BJP workers to take the message of the government’s achievements to the people, she said the Viksit Bharat Sankalp Samavesh was part of a larger national movement.

“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.” Sitharaman said the BJP’s 12-year journey under Modi was marked by both development and welfare, citing reductions in multidimensional poverty, expansion of tap water connections, sanitation coverage, free LPG connections and food security programmes.

“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,” she claimed.

Highlighting what she described as transformative changes in governance, Sitharaman pointed to the digital public infrastructure ecosystem built around Jan Dhan accounts, Aadhaar and mobile connectivity.

She noted that India now has 58 crore Jan Dhan accounts, 144 crore Aadhaar identities and 125 crore mobile connections. UPI had become a global model for digital transactions.
Sitharaman rejected allegations that the Centre had neglected Karnataka and cited tax devolution, grants and infrastructure investments.

“The Karnataka government frequently claims that the Centre is not giving the state its due share. Let us look at the facts. Tax devolution to Karnataka between 2014 and 2026 amounted to about Rs four lakh crore-five times more than the Rs 82,000 crore received in the comparable pre-2014 period,” Sitharaman, who is a Rajya Sabha member from Karnataka, said.

She added that grants-in-aid to Karnataka between 2014 and 2026 stood at about Rs 2.71 lakh crore and that the state had also received more than Rs 18,000 crore under the Centre’s 50-year interest-free loan scheme.

Referring to the vision for 2047, Sitharaman said the responsibility of building a developed India could not be left to the government alone.

“We have only 21 years left until 2047. It may sound distant, but it is not. India needs greater innovation. Karnataka is India’s innovation capital. It has led aerospace development, defence manufacturing and biotechnology. Therefore, the responsibility cannot be left to the government alone.”

“All of us must commit ourselves so that ‘Sabka Saath, Sabka Vikas’ helps India achieve the vision of Viksit Bharat by 2047,” she added.