NEW DELHI: India is the “fastest-growing” economic system below Prime Minister Narendra Modi however there are “people” within the Opposition who stay elevating questions over the rustic’s development simply out of “jealousy”, finance minister Nirmala Sitharaman mentioned within the Lok Sabha on Monday.
The minister’s statement got here throughout the Question Hour after Congress member from Telangana A Revanth Reddy raised the problem of depreciation of the rupee towards the greenback and sought to understand from the federal government if it has any motion plan to regulate the location.
The Congress MP from Telangana alleged that the Modi executive has “ruined” the rustic’s economic system since 2014 and in addition referred to Prime Minister Modi’s statement made throughout the erstwhile Congress-led UPA regime that the rupee had long gone into the ICU when it was once valued at Rs. 66 towards a greenback.
Responding to Reddy’s query, Sitharaman mentioned the Congress member, whilst regarding Modi’s remarks at the worth of the rupee towards the greenback up to now, will have to have additionally spoken in regards to the financial signs of that point.
“Economy was certainly in the ICU then. India was kept in fragile five,” she said.
“India is the fastest growing economy today” despite the pandemic and the Russia-Ukraine war, she asserted.
“This is a matter of pride. But they are making fun of it,” she said.
“It’s sad that they talk such things out of jealousy when our economy is doing well…. Today these people are standing against the Indian economy,” the finance minister hit back.
She asserted that the Indian rupee has been strong against “every currency”.
“And, that is proven and I can read the records,” she added.
The US dollar is getting “stronger and stronger” due to “the policy adopted by the US Fed”, the finance minister said.
In the last couple of weeks, the foreign reserves have gone up because of the flow of FDIs and FIIs, she said.
“The fact remains that the reserves are going up. That’s why, at this time, talks about foreign exchange, rupee depreciation, reserves coming down or investors running away are actually not proven by data,” she added.
While asking a supplementary question, Congress member Reddy said the government under Prime Minister Modi has borrowed over Rs 18 lakh crore in the past eight years alone while the country’s borrowing from 1947 to 2014 stood at over Rs Rs 55.87 lakh crore.
“You are living on borrowing Rs 10 lakh crore every year… this government has completely ruined the country,” he charged.
The minister’s statement got here throughout the Question Hour after Congress member from Telangana A Revanth Reddy raised the problem of depreciation of the rupee towards the greenback and sought to understand from the federal government if it has any motion plan to regulate the location.
The Congress MP from Telangana alleged that the Modi executive has “ruined” the rustic’s economic system since 2014 and in addition referred to Prime Minister Modi’s statement made throughout the erstwhile Congress-led UPA regime that the rupee had long gone into the ICU when it was once valued at Rs. 66 towards a greenback.
Responding to Reddy’s query, Sitharaman mentioned the Congress member, whilst regarding Modi’s remarks at the worth of the rupee towards the greenback up to now, will have to have additionally spoken in regards to the financial signs of that point.
“Economy was certainly in the ICU then. India was kept in fragile five,” she said.
“India is the fastest growing economy today” despite the pandemic and the Russia-Ukraine war, she asserted.
“This is a matter of pride. But they are making fun of it,” she said.
“It’s sad that they talk such things out of jealousy when our economy is doing well…. Today these people are standing against the Indian economy,” the finance minister hit back.
She asserted that the Indian rupee has been strong against “every currency”.
“And, that is proven and I can read the records,” she added.
The US dollar is getting “stronger and stronger” due to “the policy adopted by the US Fed”, the finance minister said.
In the last couple of weeks, the foreign reserves have gone up because of the flow of FDIs and FIIs, she said.
“The fact remains that the reserves are going up. That’s why, at this time, talks about foreign exchange, rupee depreciation, reserves coming down or investors running away are actually not proven by data,” she added.
While asking a supplementary question, Congress member Reddy said the government under Prime Minister Modi has borrowed over Rs 18 lakh crore in the past eight years alone while the country’s borrowing from 1947 to 2014 stood at over Rs Rs 55.87 lakh crore.
“You are living on borrowing Rs 10 lakh crore every year… this government has completely ruined the country,” he charged.