Ever since Nirmala Sitharaman became the finance minister of India she has made headlines for both good and bad reasons. Being the finance minister her role in shaping the nation’s economy is pivotal. However, whether she managed to boost or stabilized the country’s economy is a debatable topic. At times the way she announces decisions related to economics is more done to achieve political mottos than the economic ones.
Due to this, she has at times landed up into controversies by making statements in haste. However, in a democratic country like India finance minister shouldn’t be influenced or work under political pressures. They are expected to make decisions that are of people’s interest and countries economy and not just any particular party.
Here we take a look at how FM Nirmala Sitharaman got trolled several times for her statements that doubted her potentials as the finance minister.
Blaming Millennial’s Mindset
Talking to reporters about why the automobile industry is affected back in 2019, Finance Minister Nirmala Sitharaman had said that the reason for this is ‘millennial’s mindset.’ She had stated, “The automobile and components industry has been affected by BS6 and the mindsets of millennials, who now prefer to have Ola and Uber rather than committing to buying an automobile.” This statement of hers was discussed a lot on social media where people trolled and said that it was not the mindset but the government is unable to raise the purchasing power of the citizens of the country that they could afford to buy a new automobile.
Statement About Welfare Of Farmers
While presenting the budget in February 2021, the Finance minister had announced that Rs 75,060 crore has been paid to farmers for producing wheat. She also made remarks that the government is committed to the ‘Welfare of the farmers.’ This remark was trolled on Twitter as during the same time frame farmers were protesting in the capital city Delhi against the three farm laws and the government had tried to suppress them in all possible ways.
Rollback of reduction in small savings
In April 2021, the government had cut interest rates in Public Provident Fund (PPF) to 6.4% from 7.1%, National Savings Certificate (NSC) to 5.9% from 6.8%, Senior Citizens Savings Scheme to 6.5% from 7.4%, and the Sukanya Samriddhi Scheme to 6.9% from 7.6%, along with increasing the duration of Kisan Vikas Patra from 124 months to 138 months, which results to a reduction to 6.2% from 6.9%. But within 12 hours the decision was taken down with FM Sitharaman tweeting, “Interest rates of small savings schemes of GoI shall continue to be at the rates which existed in the last quarter of 2020-2021, i.e., rates that prevailed as of March 2021. Orders issued by oversight shall be withdrawn.” This was again a good reason for the netizens to troll.
Growth may have slowed down but the economy will never slip into recession
During a short discussion on the state of the economy in the Rajya Sabha in 2019, Sitharaman had put across a strong but not so good defense of her controlling of the economy, equating macroeconomic indicators with old Congress rules and said the growth may have slowed down but the economy will never slip into recession. At that time many criticized FM saying she was giving ambiguous answers. Many economists’ had said, the economic crisis is there in the country and the government is not doing anything.