NEW DELHI: Finance Minister Nirmala Sitharaman on Tuesday accused the Trinamool Congress (TNC) administration of fostering systematic corruption and weakening governmental institutions.
During her reply to the debate on Union Budget 2025-26 in the Lok Sabha she said, “It is ironical that Trinamool Congress, a party which prides itself on being rooted in the grassroots (Trinamool), now symbolises harassment and denial of rights to the people living at the grassroots.”
“Trinamool Congress has institutionalised corruption, gutted institutions and Trinamool has become a by-word for exploitation,” she added.
The finance minister also alleged issues in the implementation of PM Awas Yojana and MNREGA execution. “Like every other state, PM Awas Yojana is being implemented since 2016-17. The government has released Rs 25,798 crore towards central share. However, complaints of irregularities in PM Awas Yojana (Gramin) including selection of ineligible households were received,” she said. Additionally, “There have been similar complaints about MNREGA and the Ministry of Rural Development is engaging with West Bengal for satisfactory reply,” she said. As many as 25 lakh fake job cards in MNREGA, funds meant for people at the grassroots have been looted by TMC cadres,” claimed Sitharaman.
Then, discussing West Bengal’s economic performance, the FM stated that capital formation had reduced from 6.7 per cent in 2010 to 2.9 per cent in recent times. The state’s contribution to industrial production diminished from 24 per cent in 1947 to 3.5 per cent in 2021, with below-average per capita income growth spanning two decades.
Further praising her government for working of the development of Bengal, the finance minister referred to several Union government initiatives in West Bengal, including the recently opened AIIMS Kalyani in February 2024. She noted the significant railway infrastructure funding of Rs 13,955 crore and mentioned the country’s first Gati Shakti Cargo Terminal, which began operations in the Asansol Division.
She further stated that since 2014, the Modi government has developed 38 km of metro lines, investing Rs 23,050 crore, alongside constructing more than 2,309 km of National Highway across West Bengal.
Additionally, she announced that in August 2024, the CCEA gave its approval for establishing a New Civil Enclave at Bagdogra Airport in Siliguri, with a projected expenditure of Rs 1,549 crore.
Apart from her jab at TMC, Sitharaman also talked about the state of India’s economy. She highlighted that India is experiencing a “speedy rebound” from slower GDP growth, with the economy projected to grow at 6.4% in the current fiscal year.
Sitharaman also emphasized inflation management, noting that retail inflation remains within the 2-6% tolerance band, and food inflation appears to be moderating. She also addressed the concerns around depreciation of the Indian rupee, which has fallen 3.3% against the US dollar, highlighting that this decline is less than some Asian peers.
Additionally, regarding GST, Sitharaman dispelled concerns about rate hikes, asserting that no items have seen an increase since GST’s implementation. She explained that GST rates have been reduced, with the average rate falling from 15.8% to 11.3%. She urged state finance ministers to engage with the public and emphasized the GST Council’s role in recommending rates.