Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Saturday dismissed the false propaganda surrounding the 'One Nation, One Election' concept, clarifying that it will not be implemented in the upcoming elections.

Speaking at an event near here, she noted that around Rs 1 lakh crore was spent during the 2024 Lok Sabha elections, and such a massive expenditure could be saved through simultaneous elections.

"If simultaneous elections are held for electing the members of Parliament and Assembly, about 1.5 per cent growth will be added to the country's GDP. In value terms, Rs 4.50 lakh crore will get added to the economy. This is a black and white example of One Nation One Election' concept", she said.

Sitharaman accused certain parties of "spreading a false campaign" on the 'One Nation One Election' initiative, blindly opposing it.

She clarified that simultaneous polls are planned to take place only after 2034 and the groundwork is being laid now for the then President to give his assent.

"This concept was widely discussed during several occasions. It was not something introduced by the Prime Minister Narendra Modi. This One Nation One Election' was in existence till 1960s. Instead of blindly opposing it, if it has been supported considering its benefit, the One Nation One Election' concept will make the country move forward," the union minister remarked.

Sitharaman claimed that the late DMK Patriarch M Karunanidhi had supported the One Nation One Election' concept, but his son and the current Chief Minister (M K Stalin) is not following in his father's footsteps and instead opposing it.

Sitharaman reiterated that the 'One Nation One Election' concept was not someone's "pet" project, but has been planned considering the welfare of the country.