I Disagree With Jayant, He Has His Own Mind: Yashwant Sinha
Sep 29, 2017, 00:28
The latest GDP figures came out and growth rate fell below 6% and the concerns grew deeper. "Speaking on persons and then bypassing the issues is something which is very easily done". "Very high fiscal deficit, very high current account deficit, nearly touching 5 per cent and in some sense there was policing paralysis due to which the entire economy was not having a clear vision where it was headed", Goyal said. And he said "I thought Shri Sinha would be happy to remain a distant memory for the people of India".
Sinha's rebuttal comes a day after his father Yashwant Sinha, in a hard-hitting article penned for The Indian Express, that sector after sector of the economy was in distress and the November 8 demonetisation had proved to be an "unmitigated economic disaster".
"The biggest culprit for growth slowing is the note ban. We will have to see what punishment Yashwant Sinha gets", alleged the Sena, which is a constituent of the NDA government at the Centre. "They could have launched it in October", said Sinha.
He said the GST decisions were taken in consensus and there are some teething problems. But, the government was in a hurry to implement it from July 01. "Now, GSTN which is the backbone is failing", he said.
The former finance minister added that he disagreed with home minister Rajnath Singh and railways minister Piyush Goyal when they said that India was the backbone of the world's economy.
"Jayant Sinha's article in ToI reads like a PIB press release". I haven't spoken to him recently. I can conveniently forget the 15 per cent NPAs of 1998 and 2002 (during Sinha's term as finance minister). But this is the style of functioning of the finance ministry now.
Union minister Jayant Sinha.
Mast said it was odd that father and son were "communicating with each other through newspapers". "Haven't spoken to him today", he told NDTV. "Unlike the first and second generation of reforms, this third generation of reforms balances a better life for all Indians with the requirements of an advanced, sophisticated 21st century economy", the Civil Aviation Minister said.
These days, many high-profile schemes of the BJP government are in doldrums, the "Modi Fests" like Make in India and several others are flopping despite spending huge sums on them, but they are being touted as asuccessful by beating drums of advertising', the edit said.
He also absolved the previous, UPA government of responsibility for the current situation.
On being asked about whether he supports the idea of a fiscal stimulus to boost the economy, he said that he was against the idea as widening the fiscal deficit to boost government spending would have "unintended consequences" on the economy, adding that fiscal discipline was paramount for the economy.
"We had said all this over a year ago and branded as "traitors" by the BJP". He has not met me.
Sinha said: "I shall be failing in my national duty if I did not speak up even now against the mess the finance minister has made of the economy". "We are happy Yashwant Sinha has spoken the truth, echoed our views about the economy.He has spoken truth to the power", Chidambaram said. He said: "A streamlined, rules based FDI regime is inspiring confidence: FDI has accelerated from $36 billion in FY2014 to $60 billion in FY2017".
Tensions have continued to rise in the region, following a series of missile tests by North Korea in recent months. Los Angeles signed an agreement with the International Olympic Committee to host the 2028 Games on September 13.
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