Indian economy will regress into 'fragile five' if Congress' manifesto to be implemented: Nirmala

Nirmala Sitharaman. Pic/PTI

Finance Minister Nirmala Sitharaman criticised the Congress manifesto on Saturday, warning of potential economic regression if implemented. She likened the manifesto to a "Muslim League document" and stressed the BJP's responsibility to scrutinise it.

Speaking in Pune, Sitharaman questioned the Congress' financial strategy, citing Karnataka as an example of how election pledges drained funding for development. She warned that nationwide implementation of such policies could drive India's economy from the top of the world rankings to the "fragile five", reported PTI.

"It is the worst manifesto which is not in the interest of the nation," Sitharaman said.

"I know they are not coming to power, but I would still like to ask, even if the subject of the Congress manifesto were to be implemented, has the Congress done the homework on the expenditure required to fulfil the promises listed in the manifesto?" she asked and later said, "The deputy chief minister (of Karnataka) publicly acknowledged that they were left with no funds for development as the money was spent on fulfilling five promises made during elections."

"This is just about one state. If similar measures (in Congress' poll manifesto) were to be implemented across the country, the economy, currently ranked among the top five globally and projected to rise to the third position in the next couple of years, would regress into the 'fragile five'," the finance minister said per the news agency report.

According to the report, Prime Minister Narendra Modi has accused Congress of preparing wealth redistribution, which it rejects. Sitharaman said that the BJP's response to the manifesto is substantial, not defensive, and encouraged Congress to address the BJP's concerns.

"Our response to the Congress' manifesto is neither defensive nor negative, rather it is more offensive and substantive," she said and added, "The manifesto is more akin to a Muslim League document, and if not, the Congress should stand up and counter this observation (of BJP)." She further referring to the party's criticism, said, "What is wrong? We are asking questions."

Sitharaman emphasised the Congress' emphasis on wealth redistribution, citing Rahul Gandhi's sociological "x-ray" statements. She emphasised that Congress' aims are clear from both written and spoken statements, forcing PM Modi to respond, the news agency report added.