If press statements had the power to lift an economy, Nirmala Sitharaman would have proved herself to be India’s best finance minister. Unfortunately, statements can conjure no such miracles and Sitharaman continues to be what she is: a minister who is completely clueless about the state of the economy.
Her stimulus programme, coming initially in ‘Equated Weekly Instalments’, and now with lesser frequency, has failed to make any mark and the economy continues to suffer from a persistent lack of demand.
In her much-fancied series of announcements, her primary focus remains presenting a rosy picture of the economy—and that is where the problem actually begins. The finance minister is in a perpetual state of denial. The first step to solve a problem is the recognition that the problem exists but Sitharaman refuses to accept that the economy is in deep trouble.