'Economy in distress, but BJP doctors don't care', says P Chidambaram

Former Finance Minister and senior Congress leader P Chidambaram took a dig at the central government, asserting that the Indian economy is in “severe distress” and alleged that “the so-called doctors of the BJP” do not care.

Chidambaram, in a post on X on Thursday, questioned the Narendra Modi-led BJP government’s claim of the economy being in “robust health in 2023-24”. He cited a 31 per cent drop in net foreign direct investment (FDI), which according to him, is a “measure of the confidence” that foreign investors have in a country, the government and its policies.

“The BJP gives certificates to itself. The good certificate must come from foreign and Indian investors,” the Congress leader said.

“Interest rates are high, real wages are stagnant, unemployment is rising and household consumption is falling. These are definite signs of an economy in severe distress. But the so-called doctors of the BJP do not understand or do not care,” the Congress leader said.

He also asserted that Indian investors have expressed no confidence in the BJP government’s policies during the past three years. He alleged, “That is why the Finance Minister (Nirmala Sitharaman) had to admonish them and, when that failed, beg them to increase their investments!”

Chidambaram further stated that foreign investors have “realised the wrong policies” of the BJP and the “incompetent management” of the Indian economy.

“That is why they are taking money out of India and not bringing investment into the country,” he said.

As the Lok Sabha polls near, the Congress has been intensifying its attack against the central government over the status of the Indian economy, which they claim is in bad shape.