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I do not have the luxury of being a former finance minister: Arun Jaitley responds to Yashwant Sinha

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[vc_row][vc_column][vc_column_text]A day after senior BJP leader Yashwant Sinha slammed the Modi government’s handling of economy in a stinging article in The Indian Express, Finance Minister Arun Jaitley defended the government policies saying they are aimed at ending corruption.

Speaking at the Nehru Memorial Museum and Library, Jaitley defended the government’s decision of demonetisation and the launch of Goods and Services Tax (GST) and took a dig at his predecessor and said he does not have the luxury of being a former finance minister.

Refusing to respond to the charges made by Sinha, Jaitley said, “I must confess that I do not have the luxury as yet of being a former finance minister. Nor do I have the luxury of being a former finance minister who has turned a columnist.”

He added, “Therefore I can conveniently forget a policy paralysis, 4 billion reserves left in 1991 and I can switch over and change a narrative. Speaking of persons and then bypassing the issues is something which is very easily done.”

The minister also rejected the notion that the economy is in a downward spiral as suggested by Sinha. He mentioned the figures of tax collection to substantiate his claim of a strong economy. “Direct tax figures are 15.7% over and above last year’s figure, so this so-called slowdown visualized by some, hasn’t even impacted,” said Jaitley.

On GST, Jaitley said that the decision was taken with consensus and it was everybody’s call that a single rate should be introduced. He said that while some Congress leaders have been critical, most of the state governments have been supportive. Some teething problems were always expected, he added.

Calling fiscal prudence a difficult job, he said that there has been no reduction in the collection of direct taxes during his tenure. He said that the GST collection in the first two months has also been on expected lines and will pick up pace soon.

Speaking about slow down of growth in the private sector, Jaitley said some harsh steps were taken to control the effects of the “reckless lending” that took place during the UPA era.

On ease of doing business, Jaitley said that the government has ended rep-tapism. Earlier there was a lot of government discretion, which led to corruption. PM Modi has scrapped government discretion and left it to market forces, he said. This, he said, has made India a more attractive destination.

“Today the challenge really is during the boom period of 2003 to 2008-09, our private sector expanded when global economy slowed down. Private companies had undertaken large liabilities from bank, did not find demand. When global commodity prices went down, many of them did not find their loans serviceable.

“Then came a situation in 2012-14 when the governmet virtually gave up, there was no policy initiative, they allowed things to drift on their own. When you allow this, the figure (NPAs) mounted up. I must say that those in government, those in banking industry, those in RBI, when reckless lending took place, all looked the other way.

“Then suddenly some harsh steps were required. so debate is are all those steps taken a bit too harsh. Bankers believe the steps with regard to excessive provisioning are a bit too hard on them. therefore the private sector area itself was one area we have not grown…several areas of private sector have grown.

“Large industry is borrowing more from the bond market than the banks itself. that is the problem that needs to be addressed by us.

Talking about the criticism against demonetisation, Jaitley said it “one of the smoothest possible replacements of currency itself.” He said, “People saw riots would begin, starvation would take place. It was one of smoothest possible replacements of currency itself.”

He also said that the note ban targeted the shadow economy. “Demonetisation was to make sure that the anonymous tender which operated in market gets identified to its owner. The prime minister has a strong agenda on creating a new normal as far as countery’s shadow economy was concerned,” said Jaitley.

The minister added that the government is serious at checking the improper political funding. He added that illegtimate political funding has corrupted the society and tarnished the country’s image globally.[/vc_column_text][/vc_column][/vc_row]

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Rahul Gandhi attacks Centre ahead of Vladimir Putin’s India visit

Rahul Gandhi alleged that the government discourages visiting foreign dignitaries from meeting Opposition leaders, calling it a sign of “insecurity,” hours before Russian President Vladimir Putin arrives in Delhi.

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Rahul Gandhi

As Russian President Vladimir Putin arrives in Delhi today for the India-Russia Annual Summit, Leader of the Opposition Rahul Gandhi has renewed his charge that the Centre discourages visiting foreign leaders from meeting Opposition representatives. He called it a sign of “insecurity” within the government.

Rahul Gandhi alleges break in long-followed tradition

Speaking outside Parliament, Rahul Gandhi said that it has traditionally been the norm for visiting foreign leaders to meet the Leader of the Opposition, a practice he claims continued during the tenures of Atal Bihari Vajpayee and Manmohan Singh.

He alleged that the present government advises foreign dignitaries against such meetings. “When foreign leaders come, the government suggests they should not meet the Leader of the Opposition. This is their policy,” Gandhi said. He added that a meeting with the Opposition offers visiting leaders a broader perspective, as “we too represent India.”

Gandhi further stated that this approach reflects the government’s reluctance to allow engagement between the Opposition and foreign guests.

Former Foreign Secretary counters Gandhi’s remarks

Responding to Gandhi’s allegations, former Foreign Secretary and Rajya Sabha MP Harsh Vardhan Shringla said visiting leaders operate on very tight schedules and there is no protocol mandating a meeting with the Leader of the Opposition. He stressed that such interactions depend entirely on the guest’s time and preference, noting that the required meetings are those with the President and the Prime Minister.

Putin’s schedule packed with bilateral engagements

Russian President Vladimir Putin is set to land in Delhi this evening on Prime Minister Narendra Modi’s invitation. His itinerary includes:

  • A private dinner with PM Modi
  • Visit to Mahatma Gandhi’s memorial at Raj Ghat
  • Engagements at Bharat Mandapam and Hyderabad House
  • A banquet hosted by President Droupadi Murmu

The visit forms part of the 23rd India-Russia Annual Summit.

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TMC MLA Humayun Kabir suspended after Babri Mosque replica proposal sparks row

TMC suspended MLA Humayun Kabir after he proposed building a Babri mosque replica in Murshidabad, a move that drew criticism from the party and sparked political tension.

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Trinamool Congress on Thursday suspended MLA Humayun Kabir after he publicly announced plans to construct a replica of the Babri Masjid in West Bengal’s Murshidabad district. Party leaders said Kabir had earlier been cautioned for making such statements but continued to push ahead with the controversial proposal.

Kolkata Mayor Firhad Hakim said the MLA’s remarks were unacceptable, stressing that the party stood firmly by its secular stance. “We noticed that one of our MLAs suddenly declared he would build the Babri masjid. We had warned him before. As per the party’s decision, we are suspending him,” he said.

Kabir vows to continue project, may form new party

Kabir had planned to lay the foundation stone for the mosque replica in Beldanga on December 6. Sources indicated he is likely to resign from Trinamool on Friday and float a new party while continuing with the project.

The choice of date and nature of the project drew sharp criticism from the Trinamool leadership. Hakim alleged the move reflected a “divisional politics” strategy aligned with the BJP. “Why December 6? He could build a school or college. This is divisional politics,” he said.

Sources also said Chief Minister Mamata Banerjee was “hugely annoyed” by Kabir’s remarks and informed him that the party would not support or associate with such activities.

Governor raises concerns, administration on alert

West Bengal Governor Ananda Bose questioned why action was not being taken if the MLA’s statements risked creating a law-and-order issue. He said intelligence inputs suggested attempts to turn Murshidabad into a “hub of scandal,” adding that authorities would not remain silent if communal tensions were provoked.

Officials confirmed that while Kabir has permission to hold the December 6 event, the administration is maintaining a high-level alert in Murshidabad.

Minutes after his suspension, Kabir withdrew from Mamata Banerjee’s rally in the India–Bangladesh border district, where she was protesting against the Special Intensive Revision (SIR) of voter lists.

BJP attacks Kabir over remarks

BJP spokesperson Pratul Shah Deo condemned Kabir’s comments, claiming they were intended to “create communal tensions.” He said any attempt to raise structures linked to historical rulers would trigger disputes similar to the Babri Masjid conflict.

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Karnataka Power Shift: What Siddaramaiah–DK Shivakumar compromise formula means

A closer look at the emerging ‘compromise formula’ between Karnataka’s top leaders Siddaramaiah and DK Shivakumar, and how it may shape the state’s political future.

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A possible settlement between Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar has emerged, signalling a calmer phase in the leadership tussle within the state Congress. While the final decision rests with the party leadership in Delhi, details of the so-called “compromise formula” are gradually becoming clearer.

Breakfast diplomacy calms tensions

After weeks of speculation over friction between the two top leaders, Siddaramaiah and Shivakumar met over breakfast today. The meeting, aimed at projecting unity, served as a symbolic reset after their strained ties over the chief ministership question.

Analysts believe the optics were crucial — the Congress successfully avoided a public showdown by diffusing tensions before they escalated further.

A transition of power likely, say analysts

According to political observers, the compromise indicates a strong possibility of Shivakumar taking over as Chief Minister in a smooth transition, potentially as early as March–April 2026.
For now, sources say the arrangement requires Shivakumar to continue as Deputy Chief Minister without pushing for immediate change.

In return, the formula reportedly includes more cabinet positions for leaders loyal to Shivakumar and continuation of his role as the state Congress chief. Siddaramaiah is also expected to back Shivakumar as the party’s face for the 2028 Assembly election.

Why the Congress prefers this route

Replacing Siddaramaiah abruptly would not only upset internal balance but could also weaken the party, given his stature and mass appeal. Shivakumar, despite his influence, does not have the numbers within the legislature to force a takeover, making compromise the most viable path.

Siddaramaiah has already stated that this will be his final term as Chief Minister. With his legacy secure and his position as one of Karnataka’s tallest leaders intact, he appears willing to enable a dignified transition when the time comes.

Variables that could shape the final outcome

The success of the formula depends on three key factors:

1. Trust between the two leaders

Whether Shivakumar believes Siddaramaiah will keep his word remains uncertain. Karnataka’s political history is full of last-minute shifts, giving rise to the phrase “natak in Karnataka”.

2. Decision-making by the Congress high command

Delhi’s leadership must ensure the transition happens on time and without internal resistance, especially in the run-up to the 2028 Assembly polls.

3. Caste equations and political alignment

Siddaramaiah is the strongest face of the AHINDA bloc, while Shivakumar represents the OBC Vokkaliga community. The Congress cannot afford to alienate either group, making the timing and execution of any transition extremely delicate.

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