'Indian economy will slip to Fragile Five': Nirmala Sitharaman tears into Congress manifesto

Union Finance Minister Nirmala Sitharaman said that if the Congress' poll manifesto is implemented then the Indian economy, which is currently ranked among the top five globally, would regress into the "fragile five". 

The Union minister said the Congress poll document is "more akin to a Muslim League document" and BJP is duty-bound to question it, PTI reported.

Sitharaman's attack comes against the backdrop of the 'conducting an economic survey and x-ray of society' remarks made by Rahul Gandhi and the BJP's allegation that Congress is planning redistribution of wealth if voted to power.

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

Speaking with select journalists in Pune, the finance minister wondered whether Congress conducted necessary financial planning to fulfil the assurances listed in its manifesto.

"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 pondered.

Citing the case Karnataka where Congress is at helm, Sitharaman said they (Congress) attempted to implement the promises made during the state polls despite knowing that they had no funds.

"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," she said.

"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.

Prime Minister Narendra Modi accused the Congress of planning to redistribute people's property if it is voted to power.

On its part, Congress accused PM Modi of resorting to "lies" and diverting people's attention from the real issues.

Responding to a query, Sitharaman said it is the BJP, which has set the agenda for the elections.

"Our response to the Congress' manifesto is neither defensive nor negative, rather it is more offensive and substantive," she said. "The manifesto is more akin to a Muslim League document, and if not, the Congress should stand up and counter this observation (of BJP)."

Referring to the criticism of BJP spreading misinformation about Congress's manifesto, Sitharaman said, "What is wrong? We are asking questions. (The manifesto) is the fundamental point of departure from the Congress's ideology, if there was one".

The Union minister feels that there is a consistency in the way the opposition is prioritising wealth and its rights on the wealth.

"The Congress is saying something in the manifesto. It is saying something more to supplement it during public rallies," Sitharaman said when asked why PM Modi is raising the issue of the redistribution of wealth on religious lines.

She said Rahul Gandhi has repeated this point (conducting caste census) when he spoke about doing the 'x-ray' of the society.

"One can say that Congress did not mean it (redistribution of wealth) but they say they mean it. When PM Modi asked about it.. .he asked because he saw the trend... he saw the written word and also the spoken word. So he is saying that this is what they are going to do," Sitharaman added.