Pipe Dreams and Fiscal Realities: Chidambaram Critiques Government's Economic Vision

Senior Congress leader P Chidambaram criticized the Indian government's goal of making the country developed by 2047, calling it a 'pipe dream' with current growth rates. Citing Chief Economic Advisor, he highlighted the necessity of 8% growth over 15-20 years to achieve this. Chidambaram argued that the BJP government lacks innovative strategies, implying that Finance Minister Nirmala Sitharaman is adhering to outdated economic plans.

In a sharp critique of the government's economic ambitions, senior Congress leader and former finance minister P Chidambaram has labeled the goal of 'Viksit Bharat' by 2047 as a 'pipe dream' given the current growth trajectory. Speaking at a press conference on the Union Budget, he cited Chief Economic Advisor V Anantha Nageswaran's agreement on the necessity of 8% growth to meet this target.

Chidambaram expressed skepticism about the government's claims of achieving a developed status by 2047, arguing, 'At this rate of growth, it will remain a pipe dream for a long time.' He underscored that unless major economic overhauls are enacted, the goal remains distant.

The former minister accused the BJP-led government of lacking fresh ideas and stated that Finance Minister Nirmala Sitharaman continues to tread a 'worn-out path' rather than introduce reforms akin to those by Congress in 1991 and 2004. He noted that the 2025-26 Union Budget appears more focused on courting middle-class voters and the Bihar electorate.