YASHWANT Sinha, Ex-FM, Trains Gun On PM Modi For Indian Economy’s Slow Down

September 28th, 2017 | by Pranab Kumar Chakravarty
YASHWANT Sinha, Ex-FM, Trains Gun On PM Modi For Indian Economy’s Slow Down


AS Opposition has lapped up ex-Finance Minister Yashwant Sinha’s critique of worsening of the Indian economy under the NDA rule, Jayant Sinha, Minister of State for Civil Aviation and son of 84 years old senior BJP leader, on Thursday defended the Centre. He does not subscribe to his father’s view that the India’s economy is sinking .He defended the Centre’s claim that the Indian economy is the fastest growing in the world and that the country’s credibility has been established in the international arena. Yashwant Sinha on Wednesday launched a scathing attack on the BJP-led Central Government’s economic policy. Sinha, who was finance minister during the Vajpayee-government, is making headlines ever since he slammed the Modi Government saying India’s economy is in a bad shape in an article he penned for The Indian Express in an editorial in Times of India said “These structural reforms are not just desirable, they are necessary to create a ‘New India’ and provide good jobs for our billion-strong workforce. 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”.Lauding Modi’s recent decisions, Jayant Sinha,54, said that GST, demonetisation and digital payments were game-changing efforts to formalise India’s economy. streamlined, rules based FDI regime is inspiring confidence: FDI has accelerated from $36 billion in FY2014 to $60 billion in FY2017. Dismantling of Foreign Investment Promotion Board (FIPB) will make the economy even more open, he has opined. Jayant  Sinha, an IIT and Harvard School of Business, said “several articles” have been written on the challenges facing the Indian economy. “Unfortunately, these articles ping conclusions from a narrow set of facts, and quite simply miss the fundamental structural reforms that are transforming the economy,” he said.

The Congress was quick to reject Jayant’s article as a “PIB (Press Information Bureau) press release”; Ex- Finance Minister P Chidambaram said the junior Sinha should know that administrative changes are not structural reforms.

“The Jan Dhan-Aadhaar-Mobile (JAM) trinity is powering Direct Benefit Transfer (DBT) and dramatically reducing leakages. Rs 1.75 lakh crore of benefits have been transferred directly to beneficiaries over the last three years. JAM is weeding out many ghost and fake beneficiaries and cutting out middlemen,” he said.”We are creating a robust new economy that will power long-term growth and job creation for ‘New India’”. Senior Congress leader and former Finance Minister P Chidambaram lauded Yashwant Sinha for the strongly-worded article. Chidambaram praised Sinha for talking ‘truth to power’, says govt ‘looting’ people. Congress Vice President Rahul Gandhi, a staunch critic of BJP, lashed out at Modi government’s economic policy in election campaign in Gujarat .He has quoted   Sinha’s opinion piece on social media. Yashwant Sinha, who has been denied position in government and the organisation, says he had tried to meet PM Narendra Modi for ten months but was not given time. Shatrughan Sinha, who was also Union Minister in Vajpayee Government and not given any position by the incumbent dispensation, has come out in support of Yashwant Sinha.(With agency inputs)

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