A terse and scathing written piece by a former Finance Minister Yashwant Sinha exposes the central government’s economic performance and slam hardly for going GDP of India down and down in the following fiscal quarters for last 3 years. A continuous decline in GDP reached as low as 5.7 percent in the first quarter of 2017-18. It is the lowest since the Narendra Modi’s led government came into power.
Mr Sinha attacked the present Finance Minister Arun Jaitely for all the mess created on the path of Indian economy and claimed he doesn’t deserve the coveted position of the head of the Finance Ministry as he even couldn’t win a Lok Sabha election and put the economy on decline as he hasn’t any serious experience in the field of finance and economics.
In the article published in The Indian Express on 27 September, he tried to show the actual condition of Indian economy. He writes, “Private investment has shrunk as never before in two decades, industrial production has all but collapsed, agriculture is in distress, construction industry, a big employer of the work force, is in the doldrums, the rest of the service sector is also in the slow lane, exports have dwindled, sector after sector of the economy is in distress, demonetization has proved to be an unmitigated economic disaster, a badly conceived and poorly implemented GST has played havoc with businesses and sunk many of them and countless millions have lost their jobs with hardly any opportunities coming the way of the new entrants to the labour market.”
The attack on the most crucial point of growth to the present BJP government by a senior BJP leader is pinching the party most. Especially, the Finance Minister and Prime Minister are on the target of criticisms by the opposition and other stake holders in Indian polity and economics and finance.
Yashwant Sinha’s son, Jayant Sinha is a Minister himself in the Modi government and he in a next day article in another newspaper countered the allegation pitched by his father. The State Minister in Civil Aviation Ministry, he wrote to show what special measures have been taken by the present government to make a ‘new India’.
Arun Jaitley countered former Union Finance Minister’s allegation and accused him of becoming angry now for not being offered any position in the government. In a reply to this, Mr Sinha told that he doesn’t want to go on the level of personal attacks.
“I need to speak up now” is the opinion article that has created a massive ripple in Indian political and economic arenas.