“Is it a fact that consumer price inflation has averaged around 10 per cent per annum between 2008 and 2013?” Sinha asked Chidambaram.
Isn't this is the highest inflation rate in any major economy in the world and hasn't high inflation pushed millions of Indians below poverty line? he further asked.
“Is it a fact that you have been made the Finance Minister thrice and that every time you have ended up running the economy to the ground and weakened the foundations of the Indian economy? he asked Chidamabram.
Sinha alleged the UPA government allowed the fiscal deficit to cross all limits of sustainability in 2008—09 through “unproductive and irresponsible” government spending.
“Is it a fact you have drastically reduced Plan and productive allocations in the budget and taken recourse to questionable means to maintain fiscal deficits around 5 per cent of GDP and that you made a mockery of the Fiscal Responsibility and Budget Management Act?”
There is a crisis of confidence in our economy, therefore the consumption as well as investment is less, Mr. Sinha said.
Sinha also attacked Prime Minister Manmohan Singh on his comments that “money does not grow on trees”. The Prime Minister's comment came in the wake of a hike in price of oil and petroleum products on September 21, 2012.
“We indeed know money does not grow on trees. You (the Prime Minister) did not tell us anything new,” Sinha said.
But when Congress vice-president Rahul Gandhi demanded a hike in the number of subsidised LPG cylinders from 9 to 12, the Prime Minister did not think of economics at that point, Sinha alleged.
