Union Budget 2019

Union Budget 2019 | BJP MP Dr Subramanian Swamy Challenges Claims Made In Nirmala Sitharaman's Maiden Budget, Questions Economy's Size And Calculation Behind Doubling Farm Income By 2022

Written By Monica Aggarwal | Mumbai | Published:

Hack:

  • Finance Minister Nirmala Sitharaman, in her maiden Union budget, presented the blueprint to transform India's economy
  • However, senior BJP MP Dr Subramanian Swamy challenged the claims made by Nirmala Sitharaman's Union Budget
  • In a series of tweets, Dr Swamy challenged the BJP's aspiration to double the farm income by 2022 among other sharp contradictions

Finance Minister Nirmala Sitharaman, in her maiden Union budget on Friday, presented the blueprint to transform India's economy to reach USD 5 trillion by 2025. However, taking to Twitter, senior BJP MP Dr Subramanian Swamy challenged the claims made by the Union Budget presented by Nirmala Sitharaman for the PM Modi-led NDA government in its second term. 

In a series of tweets, Dr Swamy pointed out certain discrepancies in the Budget in two paragraphs of the document. 

In paragraph 8 of the Finance Minister's speech on Budget, Dr Swamy pointed out that it says, “It(GDP) is now the sixth largest in the world. However, he added that in Purchasing Power Parity terms, the country is the 3rd largest economy already". He later questioned on the aptness of both the statement, saying that both the 6th or 3rd cannot be true. 

READ | Union Budget 2019 Full Speech And Highlights: Everything Nirmala Sitharaman Said In The Modi Government 2.0's Maiden Budget

In his second tweet, the senior BJP MP shared the statements made in paragraph 10, which states that "it took 55 years to reach 1 trillion Dollar economy, while we (NDA government) in 5 years, added 1 Trillion Dollars to the economy. Today we are nearing a 3 trillion dollar level.”  Providing an analysis of the statement, Dr Swamy asked 55 years from which year? In another sharp jibe, he asked how did the government add $1 trillion by May 26, 2019? He put forth his third question asking the government on how did it reach $ 3 trillion economy in just six weeks. 

"Hare Ram!", Dr Subramanian Swamt wrote in his tweet. 

In yet another challenge to the claims made the Modi-led NDA government in the Union Budget 2019, Dr Subramanian says that as the target stated in the Budget is "doubling of farm income by 2022 from base year 2018", it will mean doubling in the next four years for which he said that a compound average annual rate of growth of 18% per year would be expected.

Giving a reality check to BJP's aspiration to double the farm income by 2022, Dr Swamy stated that at present, farm income is growing at 2.0% per year. This implies that the BJP MP is questioning the Modi government as to how it is planning to double the farm income by 2022 at 2.0% growth rate. 

"Sweet dreams," he said concluding his remarks. 

In her speech, the Finance Minister said that "it took over 55 years for the Indian economy to reach 1 trillion dollars but when the country and her people’s hearts are filled with aasha, vishwas and aakansha that is, when hearts are filled with hope, trust and aspirations, we (Modi government), in 5 years, added 1 trillion dollar. Today we are nearing a 3 trillion dollar level. So when we aspire to reach a 5 trillion dollar level, many wonder if it is possible."

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