Thank you, Sir, for giving me the opportunity. I have heard a lot of speeches over the last couple of days, lots from that side because they get more time. There is one thing we are not taking seriously, and I have to say this, Sir, that our economy is in serious trouble. Our economy is very shaky today, just like this shaky coalition that came to power in June 2024. Sir, when a wall is infested with termites, putting even 2047 layers of paints, is not going to fix that wall. The termites will continue to hollow that wall until that wall falls down. That is the state of our economy today. It is rotten and crumbling from inside. In this Budget, the hon. Finance Minister has tried to put 2047 layers of paint on this wall but the wall of this economy is going to crumble unless something serious is done. Sir, * Therefore, Sir, this is the charge sheet being filed by me today on behalf of the people of India against the Government for destroying the Indian economy. And the judges, of course, are the people of India. Sir, the case is called the people Vs. the Modi Government. Let me now tell you the chronology. When the Prime Minister showed up on our TV screens and in one swoop of knife announced the disastrous decision called demonetization. The demonetization killed the one important thing that investors look for, which is stability. After this demonetization, private investors lost faith in the Indian economy. As a result, the amount of private investment in the Indian economy started falling. Now, the problem is that, when the businesses do not invest, businesses cannot grow. And the Modi Government then realized that when a business does not grow, that business cannot contribute funds to their party kitty. Therefore, in 2019, the Modi Government drastically slashed the taxes on corporates. We have come to a bizarre point in our economy today, when income-tax paid by Indian citizens is higher than the tax paid by corporates. After slashing corporate tax, the Modi Government hoped that corporates would start putting those savings into the economy. But that did not happen. Sir, corporates completely lost faith in the ability of the Modi Government to run the economy. Therefore, instead of making new investments, corporates started using their savings from tax cuts to pay off existing debts or they started putting them in their own reserves. They did not invest in the market even after this tax cut. So, now, due to the lack of corporate investment, there has been a lack of jobs in the market because no new jobs are being created. Due to this, Sir, unemployment in India is at a 45 year high level. Lack of investment in economy led to a fall in the supply of goods; naturally. And, lack of employment resulted in people having no money which killed demand and consumption. Sir, this was followed by the devastating Covid-19 pandemic, which was again imposed by PM Modi announcing on TV at 8.00 p.m. that after 12 o’clock, everything is going to be locked down. We saw migrants losing their jobs, walking thousands of kilometers back to their villages from cities. The Modi Government could have fixed this, during the pandemic, by putting more money into people’s pockets, either through tax cuts or through a stimulus. Sir, we saw in the United States that … Madam, you are new in Parliament; learn and then you can comment on what is unparliamentary. Sir, like the United States, the Government could have put money into the pockets of people. Instead of doing that, the Government did nothing. Sir, instead, the Government decided to compensate for lack of demand from people by artificially creating demand through Government spending. This spending is called ‘capital expenditure’ or ‘CAPEX.’ How did the Government raise money for this spending? It did so by heavily taxing the people of India. Sir, CAPEX spending creates shiny new infrastructure, highways, like this new Parliament building we are sitting in, like this harebrained Central Vista that this Government has planned. So, in the middle of a broken economy, they are spending crores of rupees on creating all of these things. The problem with Capex-spending is that it does not create jobs across sectors. Capexspending of thousands of crores by the Government led to a sudden rise in the supply of money, liquidity, which led to inflation. Prices of goods started to go up. The Modi Government brought our economy to a point where people have no money left, but inflation is rapidly increasing which has led to price rise. Sir, we are in this stage of economics called ‘stagflation.’ It is stagnancy plus inflation. Today, the total amount of loans given by banks is much higher than the number of deposits made by people in banks. The question is, if people are taking loans, why are they not spending that money on consumption? The reason for this is that people are taking new loans either to meet their basic needs or to pay-off existing debts. The amount of outstanding unsecured loans like credit cards and personal loans in our economy today is equal to a shocking Rs. 62 lakh crores. That represents 35 per cent of India’s GDP. Sadly, Sir, the words ‘inflation’, ‘unemployment’, ‘price rise’ do not find a mention in the Finance Minister’s speech. Forget that. Even promises made in the last Budget seven months ago have conveniently disappeared from this Budget. In the last Budget, the Finance Minister announced the ‘PM Internship Scheme’ where the target was to offer one lakh twenty-five thousand internships in private companies to the youth. What is the current status, Sir? She didn’t say it in her speech. Only 10,000 internships, out of a target of 1,25,000, have been provided. That is less than 10 per cent of the target that has been met. Now in this Budget also, several new schemes have been announced. This is the pattern. The Finance Minister will come, announce 20 new schemes in the Budget and hope that by the next Budget, the people would have forgotten about the previous schemes. So you don’t have to give a status update. Just keep announcing new schemes where there is no follow-up on any of that. Sir, this Modi Government in December, 2023 passed the Bharatiya Nyaya Sanhita after suspending 146 MPs in this House. Therefore, I am going to read out the charges against this Government based on the Sections of the Bharatiya Nyaya Sanhita because nobody really knows about the details of this thing. Sir, in the matter of people versus the Modi Government, we have Section 212 – offence for furnishing false information. In her budget speech, the hon. Finance Minister announced a major income tax relief. Good. However, while announcing it, she declared that the Government was foregoing a revenue of Rs. 1 lakh crore through this tax relief. How true is this? Sir, the tax revenue of the Union Government this year was Rs. 25 lakh crore. In the next year, according to the Budget, the tax revenue is going to increase to Rs. 28 lakh crore. It is going to go up. The revenue deficit of the Government last year was 1.9 per cent of GDP. That GDP, the Finance Minister said in the next Budget is going to fall to 1.5 per cent of GDP. So, in simple terms, the Government is going to earn more from taxes in this Budget. How is it going to do this? By compensating for the reduction in income taxes through GST and other indirect taxes through which people are going to be extorted. Sir, only 2.2 per cent of India’s population pays income tax, benefits from it. But 100 per cent of the population pays GST. When you take money through GST, everybody is going to get impacted by that. Sir, in the matter of people versus the Modi Government, then, section 67 – . In 2021, my leader, Ms. Mamata Banerjee, and the people of my State, West Bengal, resoundingly defeated the BJP in the Assembly elections. Despite the constant efforts to target and defame the people of Bengal, PM Modi’s BJP could not win against Ms. Mamata Banerjee. After the BJP’s loss, the Modi Government started depriving the State of Bengal of its rightful dues by withholding payment. Under various Schemes like MGNREGA and Awas Yojana, Bengal’s dues of over Rs. 1.75 lakh crore have been withheld by the Modi Government. So this is a hatched by the Modi Government of depriving Bengal just because our people don’t vote for them…. Then, Sir, section 308 – . The Modi Government is the people of India through blood-sucking taxes like the GST. People’s incomes are being * from them by imposing GST on everything under the Sun. So, even something as simple as health and life insurance premiums have not been exempted. My Chief Minister, Ms. Mamata Banerjee, last year wrote a letter requesting that the 18 per cent GST on insurance be removed. This Government has still not done that. Sir, instead of the license raj, today we have the GST raj. Companies across India live in the dread of the GST Inspector who would find the smallest violation and would then huge fines from them. The purpose of this from corporates is to encourage them to quietly donate crores. . I am not yielding, Sir. Sorry, I am not yielding. He can have his chance later. No, I am not yielding, Sir.)… I am categorically not yielding. Mr. Nadda, this is not going to help you win elections. . Mr. Nadda, this is not going to help you win elections. . Sir, this is absolutely uncalled for from the leader of the House. Mr. Vice-Chairman, Sir, I am not yielding. Sir, my time is not being paused…. Sir, my time is not being paused. .. Sir, he has taken a minute of my time. I have lost one minute of my time. Sir, Mr. Nadda… Sir, the hon. Leader of the House is understandably insecure of the 2026 elections in West Bengal. The frustration is coming out. But that is okay. Ms. Mamata Banerjee is going to win again. Delhi did not have Trinamool Congress, Madam. Sir, section 351 . From students to journalists, to an average Indian posting on social media, everyone lives under the constant threat of by the Modi Government. If you criticize the Government, you are punished. Minorities in our country live in a state of constant dread and fear of the Government. Sir, now I have to say something very important which the Leader of the House might be interested in. Prime Minister would come and wave the flag.. Sir, I understand their predicament. So, I understand, Mr. Nadda; you have to do your job….Sir, the matter – ‘people versus Narendra Modi’, section 318. In the last eleven years, the Modi Government has been systematically * the people of India. They have even found a new word to describe it, called ‘jumla’…. Prime Minister, Modi’s promise to create two crore jobs – jumla; PM Modi’s promise to double farmers’ income by 2022 – jumla. Therefore, in this Union Budget, you will find the term ‘Viksit Bharat-2047’. The is not short-term now; the * is now till 2047; you will have to wait. Sir, all I have to say at the end is this. The jury in this. He took one minute of my time. Now, I would take one minute. Sir, to put it very simply, in this charge sheet, jury is normally 12 people; you are a Senior Advocate as we know. In this matter, the jury is the 1.6 billion people of India. Let me tell you something what Shri Gopal Krishna Gokhale said, ‘What Bengal thinks today, India thinks tomorrow.’ Now, Saket Gokhale is saying that in 2026 in Bengal, the BJP would be cleaned out and thrown out by Mamata Banerjee, and what Bengal does in 2026, India will repeat that in the rest of the country. Thank you, Sir.
