The BJP hit back at Congress leader P Chidambaram for his claim that the Chief Economic Advisor's preface to the latest Economic Survey was a "powerful indictment" of the Modi government.
The BJP hit back, calling Chidambaram's "screeching hypocrisy and economic illiteracy" dangerously delusional.
The Lotus party said Chidambaram, the architect of the "Fragile Five" disaster, had no right to lecture on governance after leaving India's economy gasping.
Former Finance Minister P Chidambaram praised the CEA's advice to "get out of the way" and roll back regulations.
The BJP - as expected - countered that this has been Modi's playbook since 2014, as seen in reforms like GST and the Insolvency Code.
The Survey's call for deregulation is a continuation of the government's agenda, not a rebuke, says the saffron outfit. Joining the issue, the BJP dismissed Chidambaram's "crocodile tears" over bureaucratic bloat and maintained that the fact of the matter is that PM Narendra Modi has slashed red tape.
The CEA urged changing the regulatory principle from "guilty until proven innocent" to "innocent until proven guilty." He said wiping out the "trust deficit" is imperative, as no one trusts this government.
The ruling party also said that Chidambaram's entire argument collapses under the weight of its dishonesty.
The Survey tabled by the Finance Minister Nirmala Sitharaman on Jan 31 in Parliament is in reality a blueprint for building on Modi's reforms and it was not a critique
The BJP accused Chidambaram of retreating to his "echo chamber" while insulting the intelligence of Indians.
Union Finance Minister Nirmala Sitharaman said PM Narendra Modi was clear about the need for tax relief, with the ministry working on the proposal.
She highlighted efforts to simplify direct taxes and reduce the compliance burden for taxpayers.
The Finance Minister said it 'took time' to convince the bureaucrats.
"The question should be how much it takes for me to convince the ministry and the boards. It is not so much about the Prime Minister," Ms Sitharaman told a news agency.
She also added: "The PM was very clear that he wanted to do something. It was for the ministry to reach a comfort level and then proceed with the proposal".
When asked if bureaucrats were the one who needed convincing, the FM agreed and said: "Yes, and they are right, because they have to be sure of revenue generation...
"That is their job...., but ultimately everybody came around."
"Wherever I traveled, the common sentiment was, 'We are proud and honest taxpayers. We want to continue serving the country by fulfilling our tax obligations. But would you consider what can be done for us?'" the Minister said.
Ms Sitharaman while presenting the record eighth consecutive Budget on Saturday, Feb 1, announced tax relief measures for salaried individuals.
Under the new tax regime, those earning up to Rs 12 lakh annually will not have to pay income tax. The revised tax slabs set the rate at five per cent for income between Rs 4 lakh and Rs 8 lakh, 10 per cent for income between Rs 8 lakh and Rs 12 lakh, and 15 per cent for income between Rs 12 lakh and Rs 16 lakh.
The tax rate is 20 per cent for income between Rs 16 lakh and Rs 20 lakh, 25 per cent for income between Rs 20 lakh and Rs 24 lakh, and 30 per cent for income above Rs 24 lakh.
"Just as he would talk with the most deprived sections, the tribals, or particularly vulnerable groups, he listens to all sections," she said. "It is not just 'alright, we have heard it, we can't...'; that's never the case. We should find a way."
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| Ms Sitharaman |
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