‘Kursi Bachao Budget’ Days: Congress Ignores Singh’s Cave In To Alliance Pressure.

The allies were a threat to the government of the former prime minister, ‘Dr. Manmohan Singh’, thus many of his pet projects had to be shelved or delayed, said the government in return for the claim by the opposition party.

‘Kursi Bachao Budget’, 2024 Union Budget.

The opposition has called the 2024 Union budget “Kursi Bachao” (save the regime) and is claiming that the BJP folded in to pressure from its two largest allies, the Andhra Pradesh TDP and the Bihar JDU, giving them the lion’s share.

The tale was refuted by the governing body and Finance Minister Nirmala Sitharaman, who stated that all states had been accounted for. However, one individual comprehends the essence of the ‘Kursi Bachao’ plan: former Prime Minister Dr. Manmohan Singh.

Singh’s government faced danger from the allies; therefore, several of his favourite projects had to be shelved or postponed. In actuality, Singh was compelled by the Congress party to put his ideal initiatives on hold.

Singh’s 2009 comeback as prime minister with the slogan “Singh is King” will never be forgotten. However, he came under fire on Day One itself, and his decision to revoke the appointment of several DMK leaders, including TR Balu and A Raja, as ministers had to be reversed because the irate DMK threatened to veto his administration.

Singh’s proposals rolled back.

Manmohan Singh believed that his two favorite projects would boost employment and the economy. One was his proposal to increase the maximum amount of foreign direct investment (FDI) in three key industries: civil aviation, insurance, and telecoms. Retaining earnings would result in an unwarranted outflow of foreign cash and jeopardize national security, according to the CPI (M), which opposed the measure.

Putting Singh’s plan for FDI in retail on hold was the second stage. The prime minister might not have the necessary number of MPs in Parliament since not only did the then opposition, the BJP, but even its own allies, the Left, oppose the action. Thus, this idea was also withdrawn.

What was even more embarrassing, though, was a diplomatic u-turn made by Singh in 2011. Mamata Banerjee, the chief minister of Bengal, had been scheduled to travel to Dhaka with Singh, but she chose not to go because she opposed the signing of the Teesta water-sharing agreement between Bangladesh and India. The deal had to be shelved because Banerjee, a formidable ally, would not bend.

In addition to this, there have been other incidents, such as the difficulty Singh faced while signing the nuclear agreement between India and the US, as he had to rely on the Samajwadi Party and Banerjee to see the deal through.

Singh gained the nickname “Rollback PM” for wearing so many flip-flops. He was the only one who realized that the throne was unsettled as he swallowed his pride in order to rescue his “kursi.”

Amid the fabricated accusations of the “Kursi Bachao Budget,” Congress must not overlook the fact that Dr. Manmohan Singh headed the UPA, yielded repeatedly to pressure from allies, and even went so far as to shelve a few of the former PM’s favourite projects, as Amit Malviya tweeted on X.

“No force on earth can thwart an idea whose moment has arrived.”

33 years ago, Singh used Victor Hugo to end his budget address, saying that “no force on earth can thwart an idea whose moment has arrived.” India inherited an economy under Manmohan Singh that started the process of privatizing state-owned businesses, opened up airspace, spurred the growth of new sectors, and greatly increased middle-class disposable incomes, which in turn encouraged consumption.

Khera on Singh’s Legacy.

Congress spokesman Pawan Khera recalled the 33rd anniversary of Manmohan Singh’s Budget on July 24, 1991, by posting a little video on X. Khera stated that the budget revolutionized how India and the government viewed the economy. Additionally, he mentioned that 33 years ago, Manmohan Singh, the Finance Minister, unveiled a “historic” budget.

“We were experiencing a balance of payments crisis, meaning that our foreign reserves could only last for a fortnight to meet our needs,” he continued.

Khera claims that Manmohan Singh’s economic revamp process solidified reforms through a succession of bold decisions and declarations of policy, the most significant of which comprised the radicalization of the overall industrial strategy—apart from eighteen sectors.

For the entire industry, the license was removed. A representative of Congress stated that several measures, such as lowering import tariffs, eliminating export subsidies, amending the Foreign Direct Investment Act, and more, had been put in place to ensure that new capital enters the market, promote foreign direct investment (FDI), and create jobs for our generation.

The considerable economic reforms and the easing of export and import restrictions implemented under his direction also contributed to a boom in international trade and entrepreneurship.

Establishing the NSE, India’s largest stock market, in 1992 was his crowning achievement during his term. The country’s amazing growth, revitalization of the economy, and navigation through the financial crisis were all made possible in large part by Manmohan Singh.