Chidambaram Vs. Sitharaman on Budget 2020

Brut India

ICU and doctors: This Chidambaram-Sitharaman debate on the health of India’s economy did not cause any injuries.

Transcript

00:00I think the patient has to be wheeled into the ICU.

00:04Unfortunately, the patient is being kept out of the ICU

00:08and incompetent doctors are now looking at the patient.

00:11The former minister was very obsessed with calling us very incompetent doctors.

00:20I will tell you who the incompetent doctors were.

00:30The chief economic advisor of your government for four years says the economy is in an ICU.

00:48I disagree.

00:50I think the patient has to be wheeled into the ICU.

00:55Unfortunately, the patient is being kept out of the ICU

00:59and incompetent doctors are now looking at the patient.

01:02Of course, you will not consult the opposition parties.

01:04The former minister was very obsessed with calling us very incompetent doctors.

01:13I will tell you who the incompetent doctors were.

01:17What was the remedy offered in 2008-09, sir?

01:20And what did it result in, sir?

01:23We certainly don't want that.

01:25So the twin balance sheet problem is something which we have inherited in 2014

01:31and as a result of which a whole lot of issues have cropped up

01:35for the health of public sector banks,

01:37for the number of cronies who have run away from the country,

01:40who we are trying to bring back.

01:42So that twin balance sheet problem is not something which I would want to learn from

01:48those very competent doctors.

01:51NPAs ran into lakhs of crores

01:54and of course the cronies have ran out of the country.

01:56We are getting them all back.

01:58That is another remedy offered during the 2008-09 crisis.

02:02We certainly do not want to inherit or copy those remedies of competent doctors.

02:08You will not even go across to Dr. Manmohan Singh and ask him,

02:12listen, what do you have to say?

02:15Minus thirty-six percent happened in 2012-13.

02:21Literally, FDI ran out of this country between 2012-13, sir.

02:27Minus thirty-six percent.

02:29And this is competent doctors holding the economy together.

02:33Every competent doctor that you identified and you appointed has left the country.

02:40You made sure Dr. Raghuram Rajan left.

02:44You made sure Dr. Arvind Subramaniam left.

02:48You made sure Dr. Urjit Patel left.

02:51You made sure Dr. Arvind Panagaria could not stay on longer.

02:55A lot of assumptions were being put on us.

02:59The government is predisposed in its attempt to be protectionist.

03:05Predisposed against FDAs.

03:08Predisposed about the strength of the Indian rupee.

03:11So one thing I concede, sir.

03:13We are certainly predisposed about one thing

03:16and that is not to repeat the faulty remedies

03:20which the UPA government had given in 2008-09 times when there was a crisis.

03:25You have criminalized most laws

03:28and you have given extraordinary powers to the officers.

03:31They have come up with a list of thirty-seven laws which have to be decriminalized.

03:38Everything in this country is criminal.

03:41Now they are talking of charter.

03:43Now you talk about a charter of rights of taxpayers.

03:47Let me appeal to the Honorable Finance Minister.

03:49We don't want a charter.

03:50Just take away these extraordinary powers given to these guys.

03:54Oh, harassment.

03:55Harassment is happening.

03:58Criminalization of, you know, the acts, IT acts and so on.

04:03I'll just quote the example of one act, sir.

04:07I'll just quote one example.

04:08In 2014, I was a Minister of State and Finance.

04:12Since then till today,

04:14the number of amendments that 2013 Companies Act is going through,

04:20you can ask anyone in this house, anyone here and there,

04:23the amount of work one has got to do for cleansing the Companies Act passed in 2013,

04:29which has such a lot of criminal elements, till today.

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