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Finance Minister Nirmala Sitharaman has delivered a stark warning to political parties, urging them to adopt a more pragmatic and accountable approach to making promises. Sitharaman, in an exclusive interview with Network18, underscored the importance of aligning promises with fiscal realities, emphasizing that parties must assess their budgetary capacity before committing to new initiatives. This statement, delivered on September 19th, comes at a time when India's political landscape is grappling with the repercussions of extravagant promises made during election campaigns.
Sitharaman's criticism is particularly aimed at the practice of offering freebies, a tactic that has become increasingly common in Indian elections. While these promises may seem appealing to voters, Sitharaman argues that they often lead to difficulties in implementation, creating unsustainable fiscal burdens. The examples of Karnataka and Himachal Pradesh serve as cautionary tales, demonstrating the perils of making ambitious promises without proper financial planning. Karnataka, despite its numerous commitments, is now facing financial constraints, hindering its ability to carry out developmental projects. Himachal Pradesh, once a thriving tourist destination, is struggling to meet its payroll obligations, even as it attempts to revert to the Old Pension Scheme (OPS).
Sitharaman's call for responsible governance extends beyond state governments. She criticizes the tendency of some state leaders to blame the central government for funding shortfalls, deeming such an approach unproductive. She emphasizes the need for accountability, urging politicians to conduct thorough research before making promises and to avoid using the central government as a scapegoat. Her message is clear: political parties must prioritize fiscal responsibility and ensure that their promises are not empty rhetoric but achievable goals that benefit the people they represent.
Source: FM says political parties must promise only what they can deliver - CNBC TV18