“Who’s taking Mudra’s loans, ladies?” Sitharaman’s opposition to crony capitalism’s remark

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NEW DELHI: Union Minister of Finance Nirmala Sitharaman Friday dealt a blow to the opposition for accusing the government of cronyism capitalism.
Speaking to Rajya Sabha on the Union budget 2021-22, Sitharaman asked: “The loans sanctioned under Mudra Yojana amounted to over Rs 27,000 crore. Who is taking Mudra Yojana? Damaads (son-in-law)?”
The Minister of Finance further noted that the number of digital transactions via United Payment Interface (UPI) from August 2017 to January 2020 exceeded 3.6 lakh crore.
“UPI is used by whom? The rich? No. Middle class, small traders. Who are these people then? Is the government creating UPI, facilitating digital transactions for the benefit of rich buddies? Some damaads? No”, s ‘she exclaims.
“‘Damaad’, I don’t think that is the hallmark of Indian National Congress. Damaad har ghar mein hota hai. Magar Damaad Indian National Congress mein ek specialist naam hai (the son-in-law is in every household. -Law is a specialized name in the Indian National Congress.) “, she said after the opposition raised an objection to her remark.
Sitharaman also said that the budget “is the instrument by which ‘Atmanirbhar Bharat’ is to be achieved” and asserted that the government is also considering “long-term sustainable growth”.
Sitharman said: “This is a budget that clearly builds on the experience, administrative capacity and also the exposure that the Prime Minister has had during his long elected term – both as CM and as Prime Minister of this country – known for his commitment to development, growth, and reform. So these three things are basically infused into the budget which now speaks for itself in the sense that it is the instrument by which Atmanirbhar Bharat is to be achieved. ”
In addition to providing “short-term quick fixes”, Sitharaman added that the government is also considering “long-term sustainable growth.”
Former finance minister and top congressional leader P Chidambaram on Thursday launched an attack on the government and alleged it ignored the poor, the unemployed and the MSME sector in budget proposals for 2021-2022.
Congress leader Rahul Gandhi also accused the government of cronyism capitalism. Reinterpreting the slogan “Hum do, humare do,” once used in government family planning campaigns, Rahul said the NDA government cares for the well-being of only a few wealthy people close to power.
(With contributions from agencies)
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