Entire World Recognises India As An Economically Robust Country, We Feel It When We Go Abroad: Supreme Court

Sukriti Mishra

6 March 2024 1:30 PM GMT

During the hearing of a case today before the Supreme Court, Justice Surya Kant remarked that the entire world recognises India as an economically robust country and that the same is felt while travelling abroad.

The Bench of Justice Surya Kant and Justice K.V. Vishwanathan was hearing Kerala's Suit alleging the Centre's interference in the exercise of its exclusive, autonomous and plenary powers to regulate its own finances by putting a ceiling on net borrowing.

During the course of the hearing, Additional Solicitor General N Venkataraman told the Court that, "9.4 fiscal deficit in Covid-19, During the year 2020, we have now come down to 5.8, and we are heading towards 5.1. It's declining. Our (India's) facial deficit is on a deep decline. The Organisation for Economic Co-operation and Development (OECD) and one more expert body has certified that, in contrast to G7, we are better a nation in terms of Economic Status today... Every expert is confirming that we are far superior and better than the G7 Nations".

The ASG was responding to submissions of Senior Advocate Kapil Sibal appearing for the State of Kerala about the weak state of the economy of the Country.

Responding to ASG's statement, Sibal remarked, "We are talking about our Nation, not the G7. What have you done with your Nation?"

Justice Surya Kant then intervened to say, "Mr. Venkataraman, the entire world is recognising India as a very robust economically sound country. There is no doubt about it. Even in small level judicial platforms, when we go outside the country, even there, we find this kind of feel is there, and it is not based on perception, it's based upon correct facts and figures and the strong pillars on which the economy is surviving and thriving both...."

"I am obliged", responded ASG Venkatraman.

At the end of the hearing today, the Supreme Court asked the State of Kerala and the Centre to sit together and resolve their differences. The Court adjourned the case while granting liberty to parties to mention the case after concluding discussions.

During the hearing, Senior Advocate Kapil Sibal also argued that the Union of India cannot control the budget of the State, "because our budget is tailor made to the budget of our people, depending on who is in power, what kind of ideology that political party possesses."

Last month, a detailed note was filed by the Attorney General before the Court, highlighting the poor public finance management by the State of Kerala despite several financial grants by the Centre.

Cause Title: State of Kerala v. Union of India

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Sukriti Mishra