Amid a number of indicators that have emerged in the recent past to paint a poor picture of the country's economy, Finance Minister Nirmala Sitharaman's husband Parakala Prabhakar, in a column for The Hindu ,has now advised the Narendra Modi-led BJP government to "embrace" the economic model put forward by former prime ministers PV Narasimha Rao and Manmohan Singh.
Meanwhile, on being asked to respond to the column at a press conference on Monday, 14 October, Sitharaman highlighted the 'deep reforms' brought by the Modi government in the last five years.
Prabhakar, in his column, argued that the current government should take a cue from the "Rao-Singh economic architecture", referring to the liberalisation of economy ushered in by the Congress government in 1991, when Rao was the prime minister and Manmohan held the finance ministry.
BJP's Economic Policy: 'Neti, Neti' But No 'Niti'
Prabhakar, in his column, opines that that the BJP, since its inception, has not been able to propose any economic framework of its own and has instead stayed occupied with critiquing Nehruvian socialism.
Prabhakar goes on to suggest that the economic performance of the Modi government made it choose 'a muscular political, nationalist, security platform' to make its re-election bid.
Rao Could Be BJP’s Patel for Economy
In his column, Prabhakar also puts forth the proposition that BJP could portray Narasimha Rao on the economic front, just as it has done for Sardar Patel, on the political front.
This Govt Has Effected Deep Reforms: FM Sitharaman
“If you talk of deep reforms this government has taken many such steps,” Sitharaman said, defending the present government’s credentials on the economic front.
The finance minister then went on to list initiatives like GST, IBC, linking of Aadhaar to government benefits to bolster her argument. She also cited programmes like Ujjwala and rural electrification, saying that the government has also ensured last mile delivery of these projects.
“It would be in the country’s interest if these initiatives are appreciated,” she summed up.
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