Replying to the budget debate in the Lok Sabha on Thursday, Finance Minister Arun Jaitley took on the opposition saying that the suggestion to postpone goods and services tax (GST) was a ‘charter to anarchy.’ Within a matter of months, the government has been able to stabilise GST and the rates were reduced with increase in revenue, Arun Jaitley said. “Demonetisation was a difficult decision, and it had disruptive effect,” said Arun Jaitley. He also said that the government is committed to fiscal prudence and it has been demonstrated by bringing down the fiscal deficit from 3.9 percent to present level. India will become fastest growing major economy in the world in two years, Finance Minister Arun Jaitley further said quoting the IMF data. Talking about long term capital gains (LTCG) tax on equities introduced by the government in the latest budget, the Finance Minister said that this tax didn’t upset the stock markets. “Budgetary provisions are relief to the middle class,” he also added.
Finance Minister Arun Jaitley further said that he wants Congress to introspect how it created problems in agriculture, job creation; Data speaks for itself & India will be fastest growing economy in the world. Countering the opposition further, he said, “No structural reforms were undertaken between 2003 and 2013; Lagging behind in enforceability of contracts, land acquisition & municipalities.” He also said that economic data is not subjective and India’s GDP highest in the world in 2014-15, 2015-16 and 2016-17.
Yesterday Prime Minister Narendra Modi after roaring over Congress in the Lok Sabha carried on with his frontal attack on the grand old party in the Rajya Sabha as well. Modi, in his Rajya Sabha speech, took a dig at the Congress asking ‘if you don’t want a ‘New India’, then do you wish for an India of Bofors scam?’ Prime Minister Narendra Modi, during his speech, attacked the dynasty politics played by the Congress party. PM Modi also enumerated the pro-poor schemes undertaken by the incumbent government. PM Modi also pitched the idea of ‘One India One Poll’ and stressed for simultaneous Lok Sabha and assembly elections.