5 trillion economy a joke? Whom are you mocking?': Sitharaman attacks KCR; Kavitha responds

Dubbing Prime Minister Narendra Modi's ambitious goal of India achieving USD 5 trillion economy as a "joke" and "silly", Telangana Chief Minister K Chandrasekhar Rao said the target should have been much bigger.

Union Finance Minister Nirmala Sitharaman took a dig at chief minister K Chandrashekar Rao and asked how the CM could call PM Modi's '$5 trillion economy' target a joke.

"Whom are you laughing at? On the people? Every state should contribute towards it," Sitharaman said in Hyderabad replying to a question from a reporter.

"In 2014, the debt of Telangana was Rs 60,000 crores, but in the last 7-8 years it has crossed Rs 3 lakh crores," the finance minister said.

Dubbing Prime Minister Narendra Modi's ambitious goal of India achieving USD 5 trillion economy as a "joke" and "silly", Telangana Chief Minister K Chandrasekhar Rao said the target should have been much bigger.

"By 2023-24, Modi said India will become a USD 5 trillion economy. That 5 trillion (economy) itself is a joke. Really silly. At least, our aim should be big. We should dare to dream. That 5 trillion (economy aim) itself is very very less, out of which only USD 3.5 trillion was achieved," KCR said.

Ridiculing the argument that India has become the fifth largest economy in the world, Rao said it is the per capita that has to be taken into consideration to assess any country's performance.

He said when it comes to per capita income, countries like Bangladesh and Bhutan are ahead of India.

Responding to Sitharaman, KCR's daughter and MLC Kavitha said, "I want to ask Nirmala Sitharaman who repeatedly says that our competition is with China -- China's economy is over $18 trillion. So why our goal is $5 trillion? Why aren't we aiming higher when we have a high working population and so many resources."

"Due to the myopic policies of the Central govt, this potential isn't being unlocked today. We need better policies. Modi govt only makes policies for the rich, they're corporate-friendly & are not poor-friendly," Kavitha told ANI.

Notably, Kavitha is on the radar of central investigative agencies because of her alleged link with the Delhi liquor policy scam.