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Yashwant Sinha sticks to his guns as BJP rebuts his criticism of economy

Published

9 years ago

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sinha yashwant

[vc_row][vc_column][vc_column_text]Yashwant Sinha on Thursday stood by the article in which he had criticised Finance Minister Arun Jaitley for making a mess of the economy and followed it up with further, specific details of lapses on the part of the government.

Sinha, speaking to ANI on Thursday, said, “We have all known for many days that the Indian economy has been seeing a decline… This process has been going for the past one-and-a-half years… Even then I kept silent.. The latest GDP figures came out and growth rate fell below 6% and the concerns grew deeper. The government didn’t say anything for over a week, then I felt that I should bring the issue to the public domain.”

“Before 2014, I was the party [BJP) spokesperson when it came to economic affairs. We used to call then United Progressive Alliance [UPA] government situation ‘Policy Paralysis’. This government is not paralysed as many decisions are being taken. But, there is confusion in the government that development can be done through welfare schemes, which is not right,” he said to news agency ANI.

“I am not talking just based on one quarter’s numbers, the economy has been falling for six straight quarters,” said Sinha.

The biggest culprit that made a bad situation near-catastrophic is demonetisation, said Sinha who had called the move “an unmitigated economic disaster” in his column.

“The biggest culprit for growth slowing is the note ban. A thorough study should have been done on its effects to the economy, to jobs and it should have been introduced when the economy was in a healthy state, not in the manner it was introduced,” said Sinha.

As for GST, Sinha had written that its rollout was “badly conceived and poorly implemented”. He reiterated that today. “After the demonetisation shocker, GST was another one. What was the need to hurry? They could have launched it in October,” said Sinha.

“Demonetisation shouldn’t have been brought when economy was weak. Its effects were yet to subside and GST served as second big blow,” Sinha said. “I was a supporter of GST. Govt was in a hurry to implement it from July. Now, GSTN which is the backbone is failing,” he said.

Responding to Union Home Minister Rajnath Singh and Railway Minister Piyush Goyal’s comments on Wednesday, saying that India was one of the fastest growing economies of the world, he said, “maybe Rajnath Singh and Piyush Goyal know the economy better so they think India is the backbone of the world economy. I politely disagree.”

“If you leave out Congress finance ministers then I am the only person who presented 7 budgets,” he said.

When asked about his son, Minister of State for Civil Aviation Jayant Sinha’s editorial in the Times of India on Thursday being seen as a rebuttal of his own position, Yashwant Sinha said, “There is no family feud over this. I haven’t spoken to him recently. So I don’t know whether he was asked to write this or he wrote it on his own. In any case it is a demonstration that he is being trusted to put forward the government’s view on policy. Well and good, then why was he removed from the Finance Ministry.”

“It is not a father and son issue. If Jayant Sinha has written what he has, its his own sweet will. …If he has been asked, I would say it was a cheap trick to pit father against son. Haven’t spoken to him today,” he told NDTV.

His own prescriptions for the recovery of the Indian economy, he said, was to start from strengthening the banking system and weeding out the Non-Performing Assets (NPAs). “Apart from everything else, the first and foremost goal of the government is to strengthen the banks, but we are awaiting actions in this regard,” he said.

On claims by the government that its work would benefit the country in the long run, he responded by quoting John Maynard Keynes that “In the long run, we are all dead.”

Sinha, a veteran leader of the Bharatiya Janata Party, earlier said poorly executed policy shifts had stalled growth. “Economies are destroyed more easily than they are built,” he wrote in The Indian Express on Wednesday.

He also absolved the previous, UPA government of responsibility for the current situation. “We can’t blame the government before us as we got the full chance,” he said.

Sinha told NDTV he had sought to meet Prime Minister Narendra Modi a year ago, but was yet to hear back from his office about the appointment. “I had sought an appointment to meet the PM a year ago. He has not met me. Should I be sitting in protest outside his house,” Sinha said.

“No one is willing to listen to us in the government and the party,” he added.

Fielded to defend the government against him, Yashwant Sinha’s son Jayant Sinha said in a TOI piece on Thursday that conclusions drawn from a narrow set of facts simply missed the fundamental structural reforms transforming the economy. “We are creating a robust new economy that will power longterm growth and job creation”.

Jayant Sinha’s rebuttal piece talks about the ‘New India’ which will be built on the foundation of Modi’s economic policies. It argues that measures such as demonetisation and introduction of goods and services tax (GST) will act as building blocks by bringing in formalisation in the economy as a result of which a) tax collections will go up and more resources will be made available to the state; b) friction will reduce in the economy and GDP will rise; and c) citizens will be able to establish credit more effectively as transaction records are digitised.

He also talks about the improvement in FDI inflows from $36 billion in 2013-14 to $60 billion in 2016-17, the government’s various policy initiatives such as bankruptcy code, energy sector initiatives, subsidy reforms through Jan Dhan-Aadhaar-Mobile backed direct benefit transfer (DBT). Further, Sinha talks about the progress made on rural electrification, infrastructure push, employment promotion programmes of the Modi government.

But Jayant Sinha’s rebuttal does not answer his father’s criticism on specific issues which are borne out by data: “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, demonetisation 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 new opportunities coming the way of the new entrants to the labour market.”[/vc_column_text][/vc_column][/vc_row]

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Congress Dismisses Karnataka Leadership Transition Rumors After Six-Hour Delhi Meet

The Congress party has rejected ongoing rumors regarding a leadership change or a rotating Chief Minister formula in Karnataka, stating that a recent six-hour meeting in Delhi focused strictly on the upcoming Rajya Sabha and MLC elections.

Published

13 hours ago

on

May 26, 2026

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The Congress party has strongly downplayed the intense political buzz surrounding a potential leadership transition or a change in the Chief Minister’s post in Karnataka. Following a marathon six-hour meeting with the state’s top leadership in New Delhi, the party explicitly rejected the ongoing speculation, labeling it as having “no reality.”

A brief statement issued to the media after the high-level meeting advised against spreading rumors, clarifying that the discussions were entirely centered on upcoming electoral strategies rather than structural changes within the state government. The party stated that the deliberations solely revolved around the state’s three vacant Rajya Sabha seats and the upcoming Member of Legislative Council (MLC) elections.

Rajya Sabha and MLC Polls Take Center Stage

The high-stakes meeting was attended by Congress President Mallikarjun Kharge, senior leader Rahul Gandhi, and party General Secretary KC Venugopal, alongside Karnataka Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar.

Briefing the media post-meeting, KC Venugopal stated that conversations were strictly confined to the Rajya Sabha and MLC elections, emphasizing that there is no truth to any other political speculation. Chief Minister Siddaramaiah also confirmed that the agenda of a potential cabinet expansion or a leadership shift did not come up during the six-hour-long discussion.

Background of the Power Struggle

The question of leadership in Karnataka has remained a recurring theme for over a year. Supporters of Deputy Chief Minister DK Shivakumar have consistently maintained that the central leadership promised a rotating Chief Ministership arrangement when the government was formed after the 2023 assembly elections.

Speculation had intensified recently as the ruling government faced local anti-incumbency pressures alongside renewed political activity from the opposition bench. Some internal reports had even indicated a push from within certain sections of the high command, including Priyanka Gandhi Vadra, for a leadership revamp.

Balancing Caste Equations and Party Structure

The central leadership has navigated the situation cautiously to maintain political stability. Chief Minister Siddaramaiah, 80, commands a powerful “Ahinda” support base—a coalition comprising minority communities, backward classes, and Dalits. This social alliance was crucial in helping the party navigate the traditional Vokkaliga and Lingayat caste dynamics during the 2023 elections.

Although the rotation issue had previously gained significant momentum when the government completed two years in office, the party high command had chosen to maintain the status quo to avoid any adverse electoral impact in neighboring assembly elections, such as in Tamil Nadu. With those elections concluded, supporters of the 64-year-old Deputy Chief Minister had expressed optimism for a transition. Shivakumar currently holds the dual responsibility of being the Deputy Chief Minister as well as the state Congress chief, signaling his critical organizational value to the party. However, for the time being, the party high command has firmly signaled that the current leadership structure will remain unchanged.

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Congress high command steps in to resolve Karnataka leadership impasse with crucial Delhi meeting

The Congress leadership, including Mallikarjun Kharge and Rahul Gandhi, is holding a vital meeting in Delhi with Karnataka Chief Minister Siddaramaiah to find a definitive solution to the state’s prolonged leadership impasse.

Published

23 hours ago

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May 26, 2026

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The top leadership of the Congress party is scheduled to hold a high-level meeting at its headquarters in the national capital today morning to address the long-standing leadership dispute in Karnataka. Senior leaders, including party president Mallikarjun Kharge and MP Rahul Gandhi, will lead the discussions aimed at resolving the continuous friction between Chief Minister Siddaramaiah and Deputy Chief Minister DK Shivakumar.

The ongoing power struggle over the state’s top position has persisted since the party’s electoral victory in 2023. For the current session, only Chief Minister Siddaramaiah has been called to join the discussions in Delhi. When questioned about the agenda by reporters, the Chief Minister stated that he was unaware of the specific subjects to be discussed, noting that political speculation is inevitable.

Background of the internal division

The internal friction intensified significantly in November 2025 when the state government completed its two-and-a-half-year mark in office. Supporters of the Deputy Chief Minister pointed to a purported unacknowledged internal arrangement suggesting a rotational chief ministership split equally across the five-year term. Despite multiple prior interventions by central party leadership to manage the internal friction, a permanent resolution has remained elusive.

While Deputy Chief Minister DK Shivakumar has not been invited to this morning’s initial session, indications suggest that separate individual discussions and a potential joint meeting involving both leaders are planned as part of the broader resolution process. Observers note that several state ministers and legislators have also traveled to the national capital as the party leadership aims to settle the administrative roadmap and finalise leadership plans before the next assembly elections.

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No uniform civil code provisions will be imposed on tribals, clarifies Amit Shah

Union Home Minister Amit Shah has assured tribal communities that the proposed Uniform Civil Code will not interfere with their customs, urging them not to be misled by misinformation.

Published

2 days ago

on

May 25, 2026

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Union Home Minister Amit Shah on Sunday declared that the proposed Uniform Civil Code (UCC) will not impact tribal populations in any manner. He called upon the community to stay vigilant against “conspiracies” and misinformation circulating on the subject.

Addressing the Janjati Sanskritik Samagam—a tribal conclave organized by the Janjati Suraksha Manch at the Red Fort grounds to mark the 150th birth anniversary year of Birsa Munda—Shah stated that specific provisions have been implemented in states ruled by the ruling party to exclude tribal communities from the scope of the code.

Clarification on customs and traditions

The Home Minister highlighted that a deliberate narrative has emerged suggesting the proposed legislation would strip tribal societies of their distinct culture, traditions, and customary lifestyles.

He explicitly clarified that the central government has no intention of forcing UCC regulations upon tribal or Vanvasi communities. Shah pointed out that where regional administrations have initiated the code, care has been taken by the leadership to ensure that indigenous populations remain fully outside its jurisdiction. He requested attendees to disseminate this assurance deeply into forest zones and rural villages to erase lingering apprehensions.

Focus on security and community development

Beyond the legislative framework, Shah detailed the progress made toward curbing internal security threats, stating that the nation is steadily advancing toward eradicating Naxalism entirely. He noted that violent disruptions had severely restricted progress in these belts for decades, leading to the loss of thousands of tribal lives. According to the minister, regional stability will now pave the way for accelerated development across remote hills and forests.

The address also covered constitutional rights regarding personal faith. Shah mentioned that the original framework of the Constitution grants every citizen the dignity to practice their traditional beliefs without facing coercion, temptation, or material inducement for religious conversion.

Reflecting on financial allocations, the minister criticized earlier political administrations for keeping tribal welfare funding low. He underscored that the current administration under Prime Minister Narendra Modi significantly elevated the dedicated tribal budget from a previous Rs 28,000 crore to Rs 1.54 lakh crore. Terming the vast gathering a historical movement for cultural preservation, Shah described the societal awakening as a major step toward safeguarding tribal heritage for future generations.

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