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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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Punjab Congress faction games hold up who will lead party as poll approaches

The Congress leadership is expected to finalize the new Punjab Congress chief soon as factions oppose Amarinder Singh Raja Warring continuance as chief.

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The Congress leadership is likely to decide the name of a new Punjab Pradesh Congress Comittee (PPCC) president in light of the growing factional differences emerging within the party state unit.

The decision by party president Mallikarjun Kharge on choosing the head of the state unit is likely to be finalized after he takes note of other senior leaders’ opinions on the matter, as differences over the continuation of Amarinder Singh Raja Warring as PPCC president has led to former Chief Minister Charanjit Singh Channi pitching his hat in the ring.

The leadership crisis has reflected the diverging interests of opposing factions in the Punjab Congress. Channi has the backing of several party leaders including Bharat Bhushan Ashu, Gurpreet Singh Kangar, Darshan Singh Brar, and Nazar Singh Manshahia, among other supporters of Channi, while another faction is supporting incumbent chief Warring.

The Congress needs to stem the crisis soon since the state is headed for elections next year as the term of the Bhagwant Mann-led Aam Aadmi Party government winds down. Many in the party have said that having a widely accepted state leader can strengthen the organizational structure.

The delay in decision-making has caused speculation with some senior leaders meeting BJP heavyweights in Delhi. Though these leaders have dismissed any rumours of switching sides, the strain among the factions is telling on party unity. But given the way several Rajya Sabha MPs of the Aam Aadmi Party switched to the BJP, nothing can be ruled out as election fever picks up.

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Congress MP Manish Tewari says terror must end before India-Pakistan dialogue resumes

Congress MP Manish Tewari has questioned calls to restart India-Pakistan dialogue, arguing that meaningful talks cannot resume until Pakistan takes verifiable action against terrorism.

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Congress MP says decades of peace initiatives have repeatedly been followed by terror attacks and calls for verifiable action against terrorism before any engagement

Congress MP Manish Tewari has questioned renewed calls to resume dialogue between India and Pakistan, saying any discussion with Islamabad must first address the issue of cross-border terrorism. Responding to an appeal by 117 eminent personalities from both countries seeking the restoration of diplomatic engagement, Tewari asked whether such talks could be meaningful without concrete action against terror infrastructure.

Speaking on Friday, the Congress leader said successive Indian governments had consistently attempted to improve relations with Pakistan, but those efforts were repeatedly undermined by terrorist attacks.

According to Tewari, governments led by P.V. Narasimha Rao, H.D. Deve Gowda, I.K. Gujral, Atal Bihari Vajpayee, Manmohan Singh and Prime Minister Narendra Modi all pursued dialogue with Pakistan through formal negotiations or backchannel diplomacy. However, he claimed that each attempt was followed by acts of terrorism.

Calls for proof of dismantling terror infrastructure

Tewari said the key issue was whether Pakistan had provided any verifiable assurance that it had dismantled its terror infrastructure.

Referring to former Pakistan President Pervez Musharraf, he said a public commitment had been made after the Parliament attack to act against terrorism, but the assurance was later withdrawn. He added that similar commitments made during the tenures of former Prime Ministers Manmohan Singh and Narendra Modi also failed to produce lasting results.

Questioning the appeal for renewed engagement, Tewari said those advocating talks should clarify what specific issues they intended to discuss while the threat of terrorism remained unresolved.

References Pahalgam terror attack and Indus Waters Treaty

The Congress MP also referred to the Pahalgam terror attack in April 2025, saying it further reinforced India’s concerns regarding terrorism.

He noted that India’s position became even more firm following the attack, pointing to the suspension of the Indus Waters Treaty as part of the government’s response.

Commenting on the timing of the letter seeking renewed dialogue, Tewari said India had consistently maintained that terrorism and bilateral talks could not proceed simultaneously. He also reiterated the government’s position that it would not differentiate between terrorists and those responsible for directing such attacks.

Peace remains desirable, but security comes first

While acknowledging that millions of people across South Asia aspire for lasting peace, Tewari argued that meaningful dialogue was not possible as long as terrorism remained a continuing threat.

He said India must first receive credible assurances from Pakistan, beginning with an end to the export of terrorism, before considering any resumption of diplomatic engagement.

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TVK alleges Rs 35 crore MLA bribery bid as Tamil Nadu political row escalates

Allegations of a Rs 35 crore bribery offer to a TVK MLA and an FIR against Senthil Balaji’s brother have intensified political tensions in Tamil Nadu, with the TVK, DMK and AIADMK trading accusations.

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The alleged attempt to destabilise the Vijay-led TVK government has triggered a major political confrontation in Tamil Nadu, with the ruling alliance and the opposition accusing each other of engaging in horse-trading and attempts to influence legislators.

The controversy intensified after Chennai Police arrested three people on Wednesday following a complaint by a TVK MLA, who alleged that he was offered ₹35 crore by representatives of a consultancy firm in exchange for supporting a move against the Assembly Speaker. According to the allegations, one of those arrested is reportedly associated with DMK MLA Senthil Balaji and his brother, Ashok.

An FIR has also been registered against Ashok, the brother of Senthil Balaji, over allegations that he attempted to bribe TVK MLA N. Elaiyaraja.

TVK accuses DMK of targeting its MLAs

TVK alleged that the DMK has been attempting to lure its legislators for several weeks in an effort to destabilise the government.

Tamil Nadu minister and senior TVK leader CTR Nirmal Kumar claimed that several TVK MLAs, along with legislators from alliance partners, had been approached over the past 40 days. He alleged that the party had now been “caught red-handed” after the police action and accused the DMK of trying to purchase the support of a TVK MLA for ₹35 crore.

Nirmal Kumar also alleged that a close associate of Senthil Balaji had threatened a TVK legislator and further claimed that former chief minister MK Stalin and Leader of Opposition Udhayanidhi were attempting to create a political crisis. He rejected allegations that the TVK itself was involved in horse-trading, asserting that the ruling alliance remained secure with the support of its partners.

According to the allegations cited by agencies, the purported plan involved securing the simultaneous resignation of 15 TVK MLAs to bring down the Vijay-led government.

Opposition rejects allegations

The DMK dismissed the accusations, alleging that the Vijay-led government was trying to divert attention from its own shortcomings.

DMK leader TKS Elangovan said the government had failed to fulfil its promises and claimed that the TVK alliance itself was engaged in horse-trading. He questioned the allegation that the DMK would seek to engineer political instability under the present circumstances.

The AIADMK also criticised the ruling party, accusing it of attracting legislators from rival parties while questioning its commitment to public welfare. AIADMK chief Edappadi K. Palaniswami said that political manoeuvring and shifting alliances had overshadowed governance.

Alliance partners support TVK government

The TVK’s alliance partners backed the government during the controversy.

Congress MP Praveen Chakravarty questioned why the DMK was allegedly seeking to bring down the government instead of remaining in the opposition, asking why it was in such a hurry to return to power.

VCK leader SS Balaji also reiterated his party’s support for the TVK government for its full five-year term. While stating that he was not aware of the specific allegations regarding attempts to poach legislators, he said that encouraging MLAs to resign was not a healthy democratic practice and reaffirmed the alliance’s commitment to the government.

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