India's economy and its fundamentals strong: FM hits back at Rahul Gandhi

Nirmala Sitharaman rebuts Rahul Gandhi's criticism, says India's economic fundamentals are strong and the Budget supports farmers, MSMEs and women

Finance Minister Nirmala Sitharaman on Sunday hit back at Congress leader Rahul Gandhi, saying that India's economic fundamentals are strong and the Budget addresses the needs of all sections of society.

"With due respect, I don't know what course correction he (Gandhi) is referring to. Economy and its fundamentals are strong. Global uncertainty is facing many of our sectors for whom we have brought in so many different schemes for those small and medium enterprises, textiles, leather...for farmers and women entrepreneurs," she said.

These are ways in which the government is reaching out to the common small people and making sure that they are receiving the benefit of various schemes, she said in customary post-Budget interaction with the media.

 

She was reacting to the Leader of the Opposition's comment in a post on X, which said, "Youth without jobs. Falling manufacturing. Investors pulling out capital. Household savings plummeting. Farmers in distress. Looming global shocks - all ignored. A Budget that refuses course correction, blind to India's real crises."  Observing that Lakhpati Didis is a fantastic difference made to women in the rural areas, she said Self-Help Entrepreneur (SHE) Marts will be set up as community-owned retail outlets within the cluster level federations through enhanced and innovative financing instruments.

"We are reaching out to the poor, those in a different difficult terrain or in rural areas," she said.

"The fundamentals of the economy remain strong and that has come out even in the economic survey. So, well, politically you want to criticize...You are welcome, please do it. But if you want to give me the facts on which you're basing your argument, I'm willing to hear and willing to reply to that," she added.

Announcing Budget earlier in the day in the Lok Sabha, Sithraman said "since we assumed office 12 years ago, India's economic trajectory has been marked by stability, fiscal discipline, sustained growth and moderate inflation. This is the result of conscious choices we have made, even in times of heightened uncertainty and disruption.

"We have pursued far-reaching structural reforms, fiscal prudence and monetary stability whilst maintaining a strong thrust on public investment. Keeping atmanirbharta as a lodestar, we have built domestic manufacturing capacity, energy security and reduced critical import dependencies," she said.