UPA put family first during 2008 global financial crisis, sent economy nosediving: Sitharaman

PTI, Feb 9, 2024, 1:13 PM IST

Union Finance Minister Nirmala Sitharaman on Friday tore into UPA accusing it of economic mismanagement during the 2008 global financial crisis, saying the Congress put the ”first family first” and brought the economy down to ‘fragile five.’

Initiating the debate on the ‘White Paper on Indian Economy and its impact on the lives of people of India,’ Sitharaman said the Common Wealth Games (CWG), held during the UPA regime, brought ”bad name” to the country, but India’s G20 presidency under the Narendra Modi government earned India global respect.

Substitute motions were moved by opposition members Saugata Roy (TMC) and NK Premchandran disapproving the White Paper.

Sitharaman said the Modi government worked with sincerity and pulled the economy out of ‘fragile five’ and sent it to top five globally. It is now on the verge of becoming one of the top three global economies, she said.

”Ten years of one government with some crisis and 10 years of a different government with different crisis. The comparison shown in this ‘White Paper’ clearly says how if the government handles it with true sincerity, transparency and putting the nation first, the results are there for everybody to see,” Sitharaman said.

She added, ”When you don’t put the nation first, when you put your first family first, and when you have other consideration than transparency, the results are out there for you to see. So what happened after 2008 when there was a global financial crisis and what happened post-COVID shows clearly that if the intent of the government is sincere results will be good.” Sitharaman said the Modi government handled the much more ”deadly” Covid crisis with sincerity and dedication, unlike UPA in 2008, which did not have ”clean” intention.

The party which could not handle the global financial crisis and continued with corruption and scandal is now giving lecture to the Modi government, the minister said, amid shouting by opposition members.

If you have the courage, you should not interrupt my speech and instead give a reply, Sitharaman told them.