The Central government is monitoring inflationary pressures and will not let its guard down on inflation, Union Finance Minister Nirmala Sitharaman said in Mumbai on May 29..
“We are monitoring all data at ground level also. Inflation is already moderating,” she said while interacting with reporters as a part of media events being held by Union Ministers across the country on the NDA government’s completion of nine years led by Prime Minister Narendra Modi.
Maharashtra Deputy Chief Minister and BJP’s senior leader Devendra Fadnavis, the party’s national general secretary Vinod Tawade, and State chief Chandrashekhar Bawankule were present.
Ms. Sitharaman highlighted that retail inflation has decreased to 4.8%, and the overall inflation rate is nearing negative territory. “The government is actively monitoring the prices of essential items such as food grains, vegetables, and fruits across various markets in the country. Appropriate measures are being taken to address the rising prices of specific commodities whenever required,” the Union Minister said.
Further, she slammed Congress leader and former union finance minister P. Chidambaram over his comments on the withdrawal of ₹2,000 currency note and said to cast doubt or rush to judgment on matters of this nature “does not augur well.”
Ms. Sitharaman said that the decision to withdraw ₹2,000 currency note was taken by the Reserve Bank of India (RBI), and refused to link it with the Central government.
Speaking to reporters at the Maharashtra Pradesh Congress office here, Mr. Chidambaram said the introduction of the ₹2,000 note and its subsequent withdrawal have cast doubt on the integrity and stability of the Indian currency. He stated that key economic indicators are pointing downward and there is low confidence that the economy will reach the high growth path.
“The (UPA) government lasted for 10 years, during which for a large part he was finance minister. There were several questions we had raised in Parliament and we never had a substantial answer for them. I would think it is better for all of us to understand the situation and provide observations which are commensurate with the office he had held and not be frivolous about commenting and judging it,” Ms.Sitharaman said.
She said nine years of the NDA government under Mr.Modi were nine years of ‘Seva, Sushan, and Garib Kalyan.’ “Of the nine years, we got only six years to work as three were lost to COVID-19,” the BJP leader said, adding that people trust Mr. Modi on development.
Earlier, Mr. Chidambaram expressed growing concern about adherence to the Constitution in the governance of the country. “From time to time, we have taken stock of the performance of the government, but the start of the 10th year is an important juncture,” adding that Constitutional governance; defence and security; economy; social conflict and divisions; Inflation, unemployment, inequality and poverty are crucial issues that require urgent discussion.
The Modi government has spread its assumed legislative footprint into subjects that are the legitimate concerns of state governments and has curtailed the legislative and executive powers of the State governments, he said. “Governors of non-BJP ruled states are acting like Viceroys. Parliamentary rules and conventions are violated. Debate in Parliament is becoming rare and even calls for vote by division on important Bills have been brushed aside. Legislation is pushed through without discussion and by-passing scrutiny by Parliamentary Standing Committees,” he said.
The former union minister alleged that central investigation agencies are being deployed to destabilise State governments using false cases, threats of investigations and arrests. “There is scant respect for the verdicts of Courts, including the Supreme Court. Institutions, that are the independent pillars of a democracy, have been weakened or subordinated to serve the ends of the central government. While there is an appearance of a democracy, the tree of democracy has been hollowed out,” he said adding that the aim of these excesses is to bring the states and 140 crore people under one omnipotent and omnipresent central government.
The danger ahead is ‘centralism’ as we have in some countries and if that day dawns, it will be the end of federalism, he added.
