Chidambaram Slams Modi Government’s Interim Budget: Highlights Unemployment, Inequality, And Governance Failures

Congress Rajya Sabha MP and former finance minister P Chidambaram delivered a scathing critique of the Modi government’s interim Budget 2024. The interim Budget was presented by Finance Minister Nirmala Sitharaman today in Indian Parliament. Chidambaram has shed light on critical issues overlooked in finance minister’s address.

In his statement, Chidambaram castigated the government’s repetitive claims of India’s progress over the past decade, citing discrepancies challenged by economists and domain experts. He lamented the absence of substantial measures to tackle rampant unemployment, particularly among youth and graduates, as highlighted by recent data.

Chidambaram also drew attention to the concerning rise in crimes against women and the persistent gender disparity in employment, as evidenced by official statistics. Moreover, he criticized the government’s handling of the agricultural sector, pointing to escalating farmer suicides and the contentious farm laws that sparked nationwide protests.

The former finance minister accused the government of prioritizing GDP growth over addressing crucial socio-economic indicators such as per capita income, malnutrition, and inflation. He condemned the inadequate allocation of funds for health and education in the budget, asserting that lofty promises could not be fulfilled with such meager expenditure.

Furthermore, Chidambaram denounced the government’s “minimum government, maximum governance” mantra, arguing that it undermined federalism and marginalized local governance structures. He accused the government of favoring the wealthy elite, exacerbating income inequality and stalling economic growth compared to the previous administration.

“The fundamental flaw in the NDA’s approach to the economy and governance is that it is biased in favour of the rich. It is a government of the rich, by the rich and for the rich. The government is either ignorant or callous to the fact that the top 10 per cent owns 60 per cent of the nation’s wealth and earns 57 per cent of the national income and that income inequality has widened significantly in the last 10 years,” he said.

While acknowledging the interim nature of the budget, Chidambaram hinted at forthcoming discussions on the government’s economic and governance failures over the past decade, signaling a continuation of the debate in the days ahead.

“Since it is an interim budget, I shall say no more. However, the interim budget and what went before in the last 10 years have left us with a lot to talk about in the days ahead,” he concluded his statement.