Opposition Criticizes 2024 Budget as ‘Kursi Bachao’ Tactic to Appease Allies

New Delhi, 26th July 2024: The Opposition has criticized the 2024 budget as a ‘Kursi Bachao’ (save the regime) manoeuvre, claiming the BJP succumbed to pressure from its main allies, Andhra Pradesh’s TDP and Bihar’s JDU, and granted them significant benefits.

Although the government and Finance Minister Nirmala Sitharaman dismissed this notion by asserting that all states were considered, former Prime Minister Dr Manmohan Singh is well-acquainted with the challenges of maintaining political stability through such measures.

During Singh’s tenure, many of his key projects were either postponed or cancelled due to the threats posed by coalition partners. The Congress party itself often compelled Singh to sideline his preferred initiatives.

A notable example is from 2009 when Singh returned to power with the slogan ‘Singh is King.’ However, on his first day back, he faced immediate pressure and had to reverse his decision to exclude DMK leaders like TR Balu and A Raja from ministerial positions because the DMK threatened to withdraw its support from his government.

Singh had two major initiatives aimed at boosting the economy and creating jobs. The first was raising the Foreign Direct Investment (FDI) cap in telecom, insurance, and civil aviation. The CPI(M) opposed this, citing national security concerns and the potential outflow of foreign exchange through profit repatriation.

The second initiative involved introducing FDI in retail. This faced opposition not only from the BJP but also from Singh’s allies, including the Left, raising the possibility that he wouldn’t secure enough parliamentary support. Consequently, this proposal was also withdrawn.

A particularly embarrassing moment occurred in 2011 when Singh planned a trip to Dhaka with West Bengal Chief Minister Mamata Banerjee, who refused to attend due to her opposition to the Teesta water-sharing agreement between India and Bangladesh. The agreement was put on hold as Banerjee, a crucial ally, stood firm in her refusal.

Other instances included the contentious India-US nuclear deal, where Singh had to rely on support from the Samajwadi Party and Banerjee to ensure the deal’s passage.

These numerous reversals earned Singh the label of ‘Rollback PM.’ No one understood better than Singh the precarious nature of political power as he had to swallow his pride to maintain his position.