At all-party meet, Centre sought Opposition’s support during Budget Session
The Trinamool Congress declined to attend the meeting
The Opposition maintained that the government should not advance the Budget session
Former PM Manmohan Singh questioned “the shape of the economy” at a press conference at the Congress headquarters
Manmohan and Chidambaram are Both Failed Economist: Venkaiah Naidu
Responding to the Congress’ documents on the assessment on the country’s economy, Union Minister Venkaiah Naidu said:
No need of certificate of these people. Not surprised by criticism of Manmohan ji and Chidambaram ji are both failed economists.
Union Minister Nirmala Sitharaman said:
It’s (document released by Cong) not based on hard research or data; it’s based on their own wish list and assumptions. It is an attempt on a day when they have more things to answer, how they allowed Mallya to obtain that kind of a loan.
Letter Talks About United Breweries, Not Kingfisher: Chidambaram
When asked about the BJP’s allegation about Manmohan Singh helping businessman Vijay Mallya obtain loans, the former PM said:
All governments receive representations from various captains of any industry which is passed on to an appropriate authority. What I did was with full satisfaction of mine that we were not doing anything against the law of the land. It was a normal routine transaction and therefore the letter that’s being talked about is nothing but an ordinary piece of letter that any other government in my position would have dealt with.
Former Union Finance Minister P Chidambaram, who has also been accused by the BJP of helping Mallya, said:
There’s nothing wrong if anybody says we want some policy changes. Please ask the present government if they have received any representations in the past three years. We don’t know how many associations write letters, ASSOCHAM writes letters… You’re only targeting this specific leaked letter.
He also clarified that the loans were given in 2009 when he was not the finance minister.
The letter talks about United Breweries which is currently thriving. The letter talks about share and equity, not loans. You should keep distinctions between United Breweries and Kingfisher and loans and shares in mind.
Govt's Primary Focus Should be on Fiscal Prudence: Chidambaram on Budget
Responding to questions on the upcoming Budget, former Union Finance Minister P Chidambaram said:
Today, the primary focus should be on fiscal prudence as reflected in the fiscal deficit. They government should not be spending money which they do not have.
When asked if the government is expected to cut expenditure on social welfare schemes, Chidambaram said:
I’d advice them not to cut expenditure because after demonetisation, many jobs were lost. If they cut funds for MNREGA, it will be a real cruelly cut in social welfare schemes.
Manmohan, Chidambaram Question 'Rosy Picture' of Economy
In a press conference at the Congress headquarters, former Prime Minister Manmohan Singh and former Finance Minister P Chidambaram presented a research paper titled ‘The State of the Economy’.
Singh said that the “shape of Indian economy is questionable” and the documents presented were an assessment of where the economy stands and how to set it on the right path.
Chidambaram backed the former Prime Minister by pointing out that the NDA is painting a “rosy picture” of GDP growth and it has failed to add any jobs.
These documents that we have unveiled are an important documentation on the debate of democracy. The NDA government is hiding behind the dazzle of the number called GDP. But people are asking questions. The first question being: Where are the jobs? Secondly, where is new capital investment? How are businesses being helped to grow and expand? The NDA government tends to believe in an exaggerated picture of the economy.