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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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Abhishek Banerjee says will not bow to BJP after nearly 11 hours of ED questioning

After spending nearly 11 hours before the Enforcement Directorate, TMC leader Abhishek Banerjee said he would not bow to the BJP and accused the ruling party of using investigative agencies for political purposes.

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Abhishek Banerjee

Trinamool Congress leader and Diamond Harbour MP Abhishek Banerjee on Tuesday said he would not bow to the BJP after spending nearly 11 hours being questioned by the Enforcement Directorate (ED) in connection with an ongoing investigation.

Speaking after the questioning, Banerjee alleged that central agencies were being used to target opposition leaders and asserted that he would continue his political fight despite what he described as sustained pressure.

The TMC leader has repeatedly maintained that investigations involving him are politically motivated, a charge he has made on several previous occasions while appearing before central agencies.

His appearance before the ED comes amid a period of heightened political activity and multiple investigations involving leaders in West Bengal. Recent days have also seen Banerjee face summons and questioning in separate matters by state investigative agencies.

After leaving the ED office, Banerjee reiterated that he would not be intimidated and said he remained committed to his political responsibilities. He also accused the BJP of attempting to weaken opposition parties through investigative action, an allegation that the BJP has rejected in the past.

The Enforcement Directorate has not publicly commented on Banerjee’s remarks. The investigation related to the questioning remains ongoing.

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DMK attacks Rahul Gandhi, accuses him of weakening opposition unity

DMK has intensified its criticism of Rahul Gandhi, alleging that the Congress leader’s actions have weakened opposition unity and strained relations within the INDIA bloc.

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The war of words between the DMK and Congress has intensified, with the DMK launching a strong attack on Leader of Opposition Rahul Gandhi and accusing him of contributing to divisions within the opposition alliance. The criticism comes amid strained ties between the two parties following their political split in Tamil Nadu.

According to the DMK, Rahul Gandhi’s political approach has weakened unity among opposition parties. The party’s IT wing mocked the Congress leader on social media, while an editorial published in the DMK’s official mouthpiece Murasoli questioned his recent remarks on opposition solidarity.

DMK questions Rahul Gandhi’s remarks on opposition unity

In its editorial, Murasoli argued that Rahul Gandhi was speaking about opposition unity despite, according to the DMK, contributing to disagreements among alliance partners in several states. The publication cited criticism directed at Congress by various opposition parties and suggested that the party’s actions had often created tensions within the INDIA bloc.

The editorial also referred to past political disputes involving Congress and Left parties, particularly in Kerala, claiming such episodes had raised concerns among opposition allies about Congress’s approach toward its partners.

Tamil Nadu political fallout adds to tensions

The attack comes after a major political realignment in Tamil Nadu. Following the 2026 Assembly elections, Congress ended its alliance with the DMK and joined the government led by Vijay’s Tamilaga Vettri Kazhagam (TVK). The move left the DMK in the opposition and significantly altered the political equation between the two former allies.

The DMK has alleged that Congress benefited from the alliance during the election and later abandoned its partner. The party’s editorial questioned whether assurances from Congress leadership would be trusted by alliance partners after the developments in Tamil Nadu.

Congress rejects allegations

Congress has not issued a detailed official response to the editorial, but party sources have rejected the allegations. According to the party, its decisions in Tamil Nadu were made in line with the mandate delivered by voters and were not intended to undermine either the DMK or the broader opposition alliance.

The latest exchange highlights growing strains between two key opposition parties even as leaders continue to stress cooperation on national issues. Just days earlier, Rahul Gandhi had said that the DMK remained aligned with the opposition on defending the “idea of India” despite political differences.

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Congress, SP send mixed signals on AIMIM’s role ahead of 2027 Uttar Pradesh polls

Congress and Samajwadi Party leaders have responded differently to questions about AIMIM’s role ahead of the 2027 Uttar Pradesh Assembly elections, highlighting ongoing discussions over opposition strategy.

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Differing responses from Congress and Samajwadi Party leaders have highlighted varying approaches within the Opposition camp regarding the possible role of the All India Majlis-e-Ittehadul Muslimeen (AIMIM) in the run-up to the 2027 Uttar Pradesh Assembly elections.

The discussion gained momentum after AIMIM chief Asaduddin Owaisi launched his party’s campaign preparations for the 2027 elections from Bahraich and reiterated that his party is open to alliances, provided it is treated with respect and as an equal partner.

Different responses from Congress and SP

Reacting to questions about a possible understanding with AIMIM, Congress leader Imran Masood said any decision on alliances would be taken by the party leadership. He also stressed that there could be no compromise with communalism.

On the other hand, Samajwadi Party leader Ram Gopal Yadav adopted a more accommodating tone, stating that anyone capable of defeating the BJP would be welcome. His remarks were viewed as leaving the door open to broader anti-BJP political cooperation.

The differing responses have drawn attention as Opposition parties continue to assess their electoral strategies ahead of the 2027 Uttar Pradesh Assembly elections.

AIMIM steps up preparations

AIMIM has begun expanding its campaign activity in Uttar Pradesh, with Owaisi launching the party’s preparations from Bahraich. The Hyderabad MP has indicated that AIMIM is willing to consider alliances but has maintained that any partnership must be based on mutual respect and equality.

The party is also working to strengthen its organisational presence in the state as it seeks a larger role in Uttar Pradesh politics ahead of the next Assembly election.

No formal alliance announced

Despite the ongoing discussion, no formal alliance or seat-sharing arrangement involving AIMIM and major Opposition parties has been announced so far.

With more than a year remaining before the 2027 Uttar Pradesh Assembly elections, political equations are expected to evolve as parties finalise their strategies and alliance plans.

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