NEW DELHI, Mar 6
While hearing the suit filed by Kerala’s government accusing the Centre of not allowing it to borrow more money to meet its needs, the Supreme Court on Wednesday said the world is recognising India “as a robust economically sound country”, adding this was not based on mere perceptions.
The remarks came from Justice Surya Kant while presiding over a two-judge bench also comprising Justice K V Viswanathan.
“The entire world is recognising India as a robust economically sound country. There is no doubt about it. Even when we go out of the country on judicial platforms, we find this kind of feeling there. And it’s not a feeling based on perception. It’s based on correct facts and figures and the strong pillar on which the economy is thriving and surviving both,” said Justice Surya Kant.
Justice Kant said this while intervening in a passionate exchange of words between Attorney General R Venkatara-mani, Additional Solicitor General N Venkataraman, appearing for the Centre, and Senior Advocate Kapil Sibal who represented the Kerala government.
As the two sides traded charges, the bench in a bid to moderate said all states are part of the larger body that is the union and if any part is suffering from some ailment, the centre should try to cure it. “Not only, as my brother said, you will cure the ailing part of the body, you will also make sure that that infection does not travel to that other part,” added Justice Surya Kant.
“Sometimes surgical operations are required,” remarked Attorney General Venkataramani.
Adding to the Attorney General’s comments, Venkataraman said, “Which (surgical operation) we did. From 9.4 fiscal deficit in 2020 during Covid, we have come down to 5.8 and we are heading towards 5.1…Our fiscal deficit is in deep decline”.
“OECD and one more expert body have certified that in contrast to the G7, we are better in terms of economic status…He said the union is being reckless. No. Every expert is confirming, we are far superior and better than G7 nations.”
Objecting, Sibal said “We are speaking about our own nation, not G7” and asked, “What have you done for your nation?”
Following this, Justice Surya Kant then commented about the strength of the Indian economy.
Last year, the Kerala government had approached the Supreme Court against the Centre imposing a ceiling on the amount it can borrow. It had said the ceiling had “brought the operation of” its “budget… to a grave crisis” and was violative of the principles of fiscal federalism.
