1. Arun Jaitley hits back at Yashwant Sinha, dubs him a job applicant at 80

Arun Jaitley hits back at Yashwant Sinha, dubs him a job applicant at 80

After Yashwant Sinha's scathing article. Arun Jaitley, Union Finance Minister, today responded to questions raised on the state of Indian economy.

By: | New Delhi | Updated: September 29, 2017 7:10 AM
arun jaitley, economic slowdown, yashwant sinha, arun jaitley yashwant sinha, arun jaitley on economy, yashwant sinha article, arun jaitley news, india news, india top stories, top stories Arun Jaitley, Union Finance Minister, today answered questions on economy. (PTI File)

Union Finance Minister Arun Jaitley has responded to questions raised on the state of Indian economy. FM Jaitley on Thursday had said that some people are trying to change the narrative when India is at 70 and he doesn’t have the “luxury of being a former Finance Minister which has become a columnist.” Jaitley said the Modi government has shattered policy paralysis and taken several bold steps, that previous governments would have never taken.

In a scathing article published in The Indian Express on Wednesday, BJP leader and former Union Finance Minister Yashwant Sinha had blamed Jaitley for pushing economy towards a “mess”. Sinha’s critique came days after another BJP leader and Rajya Sabha MP Subramanian Swamy had raised similar concerns on the state of economy in an interview to CNN-News18. Opinions against the handling of economy by Narendra Modi government have turned into a big controversy. Opposition leaders like Rahul Gandhi and former FM P Chidambaram have also taken swipes at the Centre.

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In his article, Sinha had said, the GDP growth rate of 5.7% could be actually 3.7% or less. Commenting on this, Chidambaram tweeted:”Yashwant Sinha speaks Truth to Power. Will Power now admit the Truth that economy is sinking? TRUTH 1: “The growth rate of 5.7% is actually 3.7% or less” says Yashwant Sinha. TRUTH 2: “Instilling fear in the minds of the people is the name of the new game” says Yashwant Sinha. ETERNAL TRUTH: No matter what Power does, ultimately Truth will prevail.” Rahul Gandhi tweeted, “Ladies & Gentlemen, this is your copilot & FM speaking. Plz fasten your seat belts & take brace position.The wings have fallen off our plane.”

At a book release function today, Jaitley refrained from taking Sinha’s name but said he does not have the luxury as yet of being a former finance minister nor does he have the luxury of being a former finance minister who has turned a columnist. The FM hit back really hard at his critic. “Acting in tandem itself won’t change the facts,” he said as he took a jibe at Sinha for seeking a job by making those comments. “Probably, a more appropriate title for the book would have been ‘India @70, Modi @3.5 and a job applicant @ 80,” Jaitley said.

Arun Jaitley’s counter to Yashwant Sinha on state of economy: Top points

  • When India is at 70, there are always attempts to change the narrative itself. I must confess that I do not have the luxury as yet of being a former finance Minister. Nor do I have the luxury of being a former finance minister who has turned a columnist. Therefore I can conveniently forget a policy paralysis, 4 billion reserve left in 1991 and I can switch over and change a narrative.
  • Demonetisation was intended to make sure that this anonymous tender (money) get identified to its owner. Shadow economy was playing under the old normal and those who opposed it were the ones under whom shadow economy was operating.
  • It was everyone’s call that GST should come. States knew the merits of GST. Those who had pushed this country into policy paralysis, when they saw it coming, they said to postpone it.
  • We gave the opportunity to people to come clean about their accounts held abroad. Small areas which paralysed, at least UPA 2, because of discretion being used and misused. We were completely able to distance ourselves from these discretions itself.
  • FDI continues to be largest ever in the country.  Direct tax figures are 15.7% over and above last year’s figure, so this so-called slow down visualized by some, hasn’t even impacted.
  • I am not drawing comparisons. In relation to what this country has undergone. If you look at the capacity of leadership to take decisions, does it put the country into policy paralysis, does it look the other way when gross corruption take place? The space of bringing a blend between a fast moving, economy that grows and benefits percolates, has been the basic tenor of this government.
  • When we started in first 1-2 years, the favourite comment was these are incremental changes, not big bang.
  • Before present government, there was no way in India you could do business without relying on alternate mechanisms of payment. It had corrupted us as a society, tarnished our image globally. Prime Minister had a very strong agenda on creating a new normal as far as India shadow economy was concerned.
  • I had announced this year, how do we legitimize political funding in India so underground funding itself comes to an end. Now it is in final stages.
  • Post demonetisation, post-GST, the most severe criticism I have faced is why did you do it (GST) so soon.
  • One of the priority before this country was economic discipline and prudence, but balance and spending was also necessary. Not so easy.
  • Modi government shattered shadow economy. Strong actions being taken against Benami property owners, irrespective of their political affiliation.
  • Look at the tenor of the debate these days. What was the kind of decision, political leadership in past would think twice before taking. We tackled political corruption in New Delhi.
  • Something UPA didn’t do since 2011, the first decision we took was to form SIT on black money.
  • There is a new ideological divergence emerging in India, which was not there in 70 years. Last 3.5 years have seen it happening emphatically. Ideological polarisation taking place across the country.
  • Left-right labelling will get diluted. Not only we replace Congress at the Centrestage but also become the central protector of the state. Whole polarisation process started 2-2.5 years ago. The centrist space comes to us. (With inputs from ANI)

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  1. Jayesh Sheth
    Sep 29, 2017 at 10:40 am
    if f.m. think this is a job,i feel that in job there must be some rules about age for become M.P and for minister past experience in that field.The problem is that our doctor is orthopedic surgeon and if he operation a cardiac patient then what will be the result?
    1. K
      Sep 29, 2017 at 6:50 am
      Preacher and Governor's job seeker at 80 Is motivated by R k Singh becoming urja Mantri after criticising govt. Corrupt and shameless ,hypocrite Yashwant introduced budget proposal in 2000 to benefit own daughter in law.However, the genesis of the problem lies here: One such FII was India Fund Inc, which is headquartered in Maryland, US, with a branch office in Mauritius. And Yashwant Sinha's daughter-in-law Punita Kumar Sinha works with India Fund Inc as the investment manager. Allegations thus started flowing thick and fast. "Sinha favoured the FIIs because his daughter-in-law worked with one," was the common refrain amongst the opposition parties. Says CPI-M spokesperson Sitaram Yechuri, "The core issue was that of the Central Board of Direct Taxes circular number 789 which stated that to prove residence in Mauritius, a letter to that effect would suffice. This was done to benefit the Sinha family. Yechuri said India Fund Inc's 1999 annual report reveals that the company had ope
      1. A
        Sep 28, 2017 at 10:46 pm
        This buffalo brain Jeitley will never repent for his misdeeds and his foolishness. He will fight it back even if the country goes to hell.
        1. X
          Sep 28, 2017 at 10:25 pm
          We know about you. You never had post previous BJP apart from delhi cricket. Now in power you trying to execute slavery to this country by imposing laws against the nation. You are own party people is not having good opinion. You dont fool people. RBI has accepted demonitization failure. Next election you have no place for BJP.. no party remember. You are lost totally.
          1. D
            Sep 28, 2017 at 10:15 pm
            When is he showing results, not mannerisms and designer clothing. We've seen a self confessed chaiwala as PM, a undergraduate as Education Minister , a Sangh party worker as Rly. Minister( of disasters), a lawyer as FM. This looks more like a circus, as they are just doing there own thing, unmindful of the hardships of aam admi who are suffering because of their naive policies.
            1. Subhash Podder
              Sep 28, 2017 at 10:02 pm
              Don't excited , Yes you are Finance Minister of India , you are trying your best but it will take time . Nothing move dramatically. But ,you are doing drastically to improve the situation prevailing in this country .
              1. Jaijawan Jaikisan
                Sep 28, 2017 at 10:01 pm
                so well said.
                1. Aariz Mohammed
                  Sep 28, 2017 at 9:01 pm
                  ....... You have not learned from the experience of ATM Calibration. You pushed the country into this without preparation refusing the experience of Demonetization. You won’t have any means to check why the corporate of Telecom Sector are not maintaining the required quality of communication network. For that matter you won’t have any control over them as they are your Masters and pushed you into this mess. You allowed them to “ you” as we allowed you and paying the cost. Some of us know at least that we will continue to pay for this even after you began to enjoy the luxury of ExFM and remain in History as a Stupid along with your Master and Masters.
                  1. Aariz Mohammed
                    Sep 28, 2017 at 8:59 pm
                    No point still blaming UPA, You have not allowed UPA II perform and every statement you people have given on every policy proposal is coming on your way. You renamed almost all the Schemes you adopted all the policies with superficial change with hurry without looking into the consequences. You not only kept your people in the state of "fear" but also silenced the Media, opposition. You drained the Liquid cash from the Market that effected the entire informal sector and threatened them to make use of Tax Ins utions and made the Tax filing complex on the name of "One Tax - One Country with 9 types of Taxes " which made every Tax payer to hide. You won't have the Human resources to collect the Tax and take care of the "Culprits" other than keeping the petty traders, SMSE, Construction Sector etc. in Fear. You have not even imagined that all this will end up in litigation, even if they file the Tax Return, You won’t have necessary Bandwidth that could facilitate tax filing.
                    1. J
                      Sep 28, 2017 at 8:58 pm
                      More bull .
                      1. pravin modi
                        Sep 28, 2017 at 8:31 pm
                        sounds much more like a defence lawyer rather than the vitta mantri of Bharatvarsh ! The numbers speak so aloud. Reminds of that ostrich.
                        1. A
                          Sep 28, 2017 at 10:47 pm
                          Yes. He is also a buffon
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