Asheville, September 1: Finance Minister Nirmala Sitharaman has criticized Rahul Gandhi for labeling India as a “dead economy.” She emphasized that such comments undermine the hard work of Indian citizens, especially given the country’s impressive growth rate of 7.8 percent.
During a special interview at the G-20 finance ministers’ meeting, Sitharaman expressed disappointment over the opposition’s portrayal of the economy, despite consistently strong economic indicators. “It is quite strange that Rahul Gandhi continues to call the Indian economy a ‘dead economy’ in light of these growth figures,” she stated.
Sitharaman highlighted that such remarks reflect a lack of respect for the efforts of Indian citizens, which is concerning. She acknowledged that questioning the government is a legitimate and necessary role of the opposition in a democracy. However, she insisted that the contributions of citizens to economic progress should not be overlooked during criticism.
“The opposition’s role in questioning the ruling party is important and valid. A strong opposition is essential in a democracy,” she added. Yet, she reiterated that calling the Indian economy ‘dead’ despite positive growth is perplexing.
The Finance Minister asserted that no political party has the right to belittle those whose efforts contribute to economic growth. She urged the opposition to recognize the hard work of citizens and refrain from negative comments.
When asked if Gandhi’s remarks indicate a lack of economic understanding or political animosity, Sitharaman pointed to the economists within the Congress party. “I believe there are many economists in the Congress party who form an economic advisory group. They cannot deny the facts. However, for political reasons, if one wishes to speak negatively about the Indian economy at a time when people are genuinely doing well, it may be an attempt to improve performance in other areas,” she explained.
She emphasized that this does not affect the overall positive narrative reflected in the current data. “We are presenting good figures every quarter,” she noted.
Sitharaman expressed her satisfaction with the latest growth figures, which showcase the efforts of Indian citizens amid external challenges. The economy is projected to grow by 7.8 percent in the first quarter of the 2026-27 fiscal year, with manufacturing increasing by 9.2 percent and the financial and professional services sector expanding by 12.1 percent. The foreign exchange reserves stood at nearly $700 billion.
“These are not trivial figures. They are a direct result of how people are fulfilling their personal aspirations while propelling India towards ‘Developed India 2047,'” she stated.
She believes that the performance in the first quarter will strengthen growth throughout the fiscal year and expressed confidence that similar figures could continue in the upcoming quarters.
Sitharaman credited the reforms implemented by the Modi government and the cooperation of state governments. Over 1,000 laws have been repealed, and nearly 40,000 regulations simplified, while the government has maintained continuous engagement with industry, business, and trade.
Sitharaman is currently in Asheville for the G-20 finance ministers’ meeting. During her trip to Canada and the United States, she is also holding bilateral discussions with participating countries and meetings with international investors.
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