NewDelhi: Just a day after veteran Bharatiya Janata Party (BJP) leader Yashwant Sinha took on Finance Minister Arun Jaitley for landing the economy in a fiscal mess, his son and union minister Jayant Sinha defended the economic policies of the government stating that the ‘robust new economy’ created by the Modi government will power ‘long-term growth’ and provide jobs for creation of ‘New India.’
Rebuttal by Jayant comes in wake of an article penned by his father on Wednesday in a leading national daily where the latter slammed Jaitley and urged Prime Minister to “retract from the present reform process” and stop laying “excess thrust” on jobless growth that has resulted in mounting unemployment.
An article by Minister of State for Civil Aviation was published in another national daily today where he wrote, “The new economy that is being created will be much more transparent, globally cost-competitive, and innovation driven. Importantly, the new economy will also be much more equitable thereby enabling all Indians to lead better lives.”
Jayant Sinha wrote that it’s lacking on anyone’s part to draw sweeping conclusions from a selected facts, completely ignoring fundamental structural reforms that are transforming the economy.
He also stated that “one or two quarters of GDP growth and other macro data are quite inadequate to evaluate the long-term impact of the structural reforms underway.”
On demonetisation, he said that note ban was a game-changing efforts to formalise India’s economy.
Meanwhile supporting what Yashwant Sinha claimed through his op-ed, another senior BJP minister Shatrughan Sinha tweeted that “Hope, wish & pray that all those people who matter in our party ponder over what has been said by Mr. Yashwant Sinha”.
Bureau Report
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