Can This Budget Really Spur Growth or Consumption?; Rahul Gandhi’s Jabs at PM Modi For Trying to Get Trump Inauguration Invitation; Non-Bailable Warrants by Kerala Court Against Ramdev, Balakrishna
A newsletter from The Wire | Founded by Tanweer Alam, Sidharth Bhatia, Pratik Kanjilal, Seema Chishti, Sushant Singh, MK Venu, and Siddharth Varadarajan | Contributing writer: Kalrav Joshi, with additional inputs by Anirudh SK
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Over to Sidharth Bhatia for today’s Cable
Snapshot of the day
February 3, 2025
Sidharth Bhatia
Leader of Opposition (LoP) in Lok Sabha Rahul Gandhi took a jab at Prime Minister Narendra Modi over the lack of an invite to Donald Trump's inauguration, while replying to the Motion of Thanks to the President’s address. Mocking the Central government, Gandhi claimed that if it had taken economic policies seriously, then the government would not have had to send Foreign Minister S Jaishankar to the US to get an invitation for Prime Minister Narendra Modi for Donald Trump's swearing-in ceremony. “When we talk to the United States, we would not send the Foreign Minister three-four times to get an invite for our Prime Minister because if we had a production system and we were working on these technologies, the US President would come here and invite the Prime Minister,” he said.
He further went on to appreciate Modi’s ‘Make in India’ programme and termed it a good idea, ‘conceptually’, but said that “it is clear that he failed”. “The Prime Minister proposed the 'Make in India' programme. I think it was a good idea...The result is right in front of you, manufacturing fell from 15.3% of GDP in 2014 to 12.6% of GDP today, which is the lowest share of manufacturing in 60 years. I am not blaming the Prime Minister, it would not be fair to say that he did not try. I could say that the Prime Minister tried, but he failed,” he said in the parliament.
Meanwhile, some caution on the budget goodies…
(Credit: Satish Acharya)
Meanwhile, India’s financial system is in turmoil and the government’s mismanagement is glaringly evident. To address a severe cash crunch, the Reserve Bank of India had no choice but to inject $5.10 billion through a foreign-exchange swap auction – marking the first time in five years that such a drastic measure was needed, reports Bloomberg.
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