The remark comes after the Finance Minister Nirmala Sitharaman said the economy will face a contraction in its current fiscal. With reasons that the pandemic is “An Act of God.”
The Congress leader P Chidambaram on Saturday shaded Finance Minister Nirmala Sitharaman over her ‘Act of God’ remarks on the economy. Sitharaman on Thursday claimed that the economy has been affected by the pandemic, which is an ‘Act of God’. Due to this, the Indian economy will face a contraction in the current fiscal.
Remarking these lines said by Sitharaman, Chidambaram retorted, “If the pandemic is an ‘Act of God’, how do we describe the mismanagement of the economy during 2017-18, 2018-19 and 2019-20. Before the pandemic struck India?” Will the FM as the Messenger of God please answer?”. Again it was said with regards to the “mismanagement” of the economy before the pandemic struck.
Not only Chidambaram, but other veteran Congress leaders, signified a steady decline in quarterly GDP growth rates. Which dropped from 7.1 per cent in Q2 2018/19 to 3.1 per cent in Q4 in 2019/20.
Chidambaram had previously lashed out at the government for the economic growth in May. Around 3.1 per cent GDP growth in January-March quarter of 2019-20 . This led the Congress leader to lash out.
Former Union Minister Jairam Ramesh joined chorus with Chidambaram. Ramesd added that “the government was in denial over its handling of the economy”, and said, “parm-atma-nirbhar.” (Source:NDTV)
In a series of tweets on 29th August, Mr Chidambaram also declared that incentives provided by the BJP government to counter the shortfall in GST (goods and services tax) collection is “unacceptable”.
The centre supplied over ₹ 1.65 lakh crore as GST compensation to states for fiscal 2020, including ₹ 13,806 crore for March. This was said by the Finance Minister, noting that cess collected for GST compensation was only ₹ 95,444 crore.