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

Published

9 years ago

September 28, 2017

[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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Hardeep Singh Puri elected unopposed to Rajya Sabha from Madhya Pradesh

Union Minister Hardeep Singh Puri has been elected unopposed to the Rajya Sabha from Madhya Pradesh after the nominations of two other candidates, including a Congress-backed nominee, were rejected.

Published

9 hours ago

November 5, 2026

APNLive Desk

Union Petroleum Minister and Bharatiya Janata Party (BJP) leader Hardeep Singh Puri has been elected unopposed to the Rajya Sabha from Madhya Pradesh. The announcement was made on Thursday after the deadline for withdrawal of nominations ended, leaving Puri as the only candidate in the contest.

Puri’s election followed the rejection of nomination papers filed by two other candidates, Kante Sayanna and Rajkumar Lohani, who was backed by the Opposition Congress. Their nominations were rejected during the scrutiny process, making Puri the sole candidate remaining in the fray.

Returning Officer Umesh Sharma formally declared Puri elected to the Upper House of Parliament. Madhya Pradesh BJP president Hemant Khandelwal collected his certificate of election from the returning officer in the presence of party MLA Rameshwar Sharma.

Why Hardeep Singh Puri was elected unopposed

The Madhya Pradesh Rajya Sabha bypoll witnessed three candidates initially entering the contest. However, the nomination papers of the two other candidates did not clear scrutiny.

Kante Sayanna and Congress-backed candidate Rajkumar Lohani had their nominations rejected during the examination of election papers. With both candidates out of the contest, Puri remained the only candidate.

As a result, the returning officer declared him elected unopposed on the final day of withdrawal of nominations on November 5.

The bypoll, if required, had been scheduled to take place on November 12.

Why the Madhya Pradesh Rajya Sabha seat fell vacant

The by-election became necessary following the resignation of former Union minister L Murugan from the Rajya Sabha last month.

Murugan’s departure created a vacancy in the Upper House from Madhya Pradesh. His original term was scheduled to continue until April 2, 2030.

The BJP subsequently nominated Hardeep Singh Puri as its candidate for the by-election.

Puri, a former diplomat who later entered politics, currently serves as the Union Minister of Petroleum and Natural Gas.

India News

Amit Shah challenges Rahul Gandhi to debate SIR in Parliament

Amit Shah responded to Rahul Gandhi’s public debate challenge by inviting him to discuss the SIR exercise in Parliament. He also criticised the Congress over its demand for Chief Election Commissioner Gyanesh Kumar’s resignation.

Published

13 hours ago

November 5, 2026

APNLive Desk

Union Home Minister Amit Shah has challenged Congress leader Rahul Gandhi to take up his demand for a public debate with Prime Minister Narendra Modi in Parliament, saying the government is ready to convene a special session to discuss the Special Intensive Revision (SIR) exercise.

Addressing a rally in Haryana’s Karnal, Shah directly responded to Gandhi’s challenge to the Prime Minister, asking the Congress leader to write to PM Modi if he wanted a discussion.

“I want to challenge Rahul Gandhi directly. You challenge PM Modi for a discussion? If you want a discussion, simply write a letter to PM Modi. We are ready to convene a special session of Parliament to discuss the SIR exercise… Come and debate in Parliament,” Shah said.

The remarks came two days after Rahul Gandhi issued another public debate challenge to the Prime Minister.

On November 3, Gandhi wrote in a post on X that PM Modi could choose any stage or venue for a discussion. He proposed debating allegations concerning who was anti-national and who had connections with foreign forces, adding that the media and the country’s youth should also be present.

Amit Shah targets Congress over SIR controversy

During his address, Shah also criticised the Congress over its demand for the resignation of Chief Election Commissioner Gyanesh Kumar.

Referring to the 2014, 2019 and 2024 Lok Sabha elections, the Home Minister argued that the Congress had lost despite no Special Intensive Revision exercise being conducted during those elections.

“Where was the SIR in 2014? You were completely wiped out even then. Where was SIR in 2019? You lost. There was no SIR in 2024 either, yet you lost again,” he said.

Shah also referred to the elections in Haryana and Maharashtra, claiming that there was no SIR exercise in either state when the Congress suffered electoral defeats.

He accused the Opposition of disrupting parliamentary proceedings and organising protests on the streets instead of allowing Parliament to function.

Shah criticises Rahul Gandhi over protests

The Home Minister further alleged that Rahul Gandhi and the Congress were creating disorder through street protests and parliamentary boycotts.

Shah said BJP workers would give a “fitting reply” if Gandhi continued to mobilise crowds on the streets.

He also questioned Gandhi’s claim to have mobilised large numbers of people for a rally in Delhi, alleging that the venue had a capacity of 70,000 and was still half empty despite an appeal to bring 10 lakh people.

“The people of the country have consistently defeated Rahul Gandhi and the Congress party. The people of the country are not with you or the Opposition alliance,” Shah said.

Amit Shah raises questions over Rahul Gandhi’s foreign visits

Shah also sought details about Rahul Gandhi’s foreign visits, arguing that people had a right to know about them.

“You’re Leader of Opposition… People have the right to know,” the Home Minister said.

His remarks came amid the continuing political confrontation between the BJP and Congress over the SIR exercise, electoral processes and the Opposition’s criticism of the Election Commission.

India News

Sharad Pawar admitted to Mumbai hospital hours after Pune discharge

NCP (SP) chief Sharad Pawar was admitted to Mumbai’s Breach Candy Hospital hours after being discharged from Pune’s Ruby Hall Clinic, where he had been undergoing medical observation following complaints of cough and chest pain.

Published

21 hours ago

November 5, 2026

APNLive Desk

Nationalist Congress Party (Sharadchandra Pawar) chief Sharad Pawar was admitted to Mumbai’s Breach Candy Hospital on Wednesday, just hours after being discharged from Pune’s Ruby Hall Clinic. His daughter and Baramati MP Supriya Sule confirmed the development in a social media post, saying that the veteran politician was being admitted for further medical tests.

The 85-year-old leader had been discharged from Ruby Hall Clinic earlier on Wednesday after being admitted on November 2 following complaints of cough and pleuritic chest pain.

Confirming his admission to the Mumbai hospital, Supriya Sule said, “We are admitting Baba to Breach Candy Hospital for further tests. Thank you all for your concern and good wishes.”

Pawar’s latest hospitalisation came after he had undergone medical tests and observation during his stay at the Pune facility. Sule had earlier said that his health parameters were stable.

Why was Sharad Pawar admitted to hospital?

Sharad Pawar was initially admitted to Pune’s Ruby Hall Clinic on November 2 after experiencing complaints of cough and pleuritic pain, a form of chest pain that generally becomes worse while breathing, coughing or sneezing.

Dr Purvez K Grant, chief cardiologist, chairman and managing trustee of Ruby Hall Clinic, had said that Pawar was admitted for a general health check-up and medical observation following complaints of pleuritic pain.

During his hospital stay, Supriya Sule had informed that Pawar was undergoing medical tests and that his health parameters remained stable.

He was subsequently discharged from the Pune hospital on Wednesday. However, hours later, his family decided to admit him to Mumbai’s Breach Candy Hospital for further medical examinations.

PM Modi calls Sharad Pawar, advises complete rest

Prime Minister Narendra Modi also spoke to Sharad Pawar over the phone on Wednesday morning to enquire about his health.

According to Pawar’s aide Vitthal Maniyar, the Prime Minister spoke to the NCP (SP) chief and advised him to take complete rest.

Maniyar said Modi told Pawar that his daughter Supriya Sule and others were ready to take care of the country, and that the veteran politician should focus on his health.

Pawar thanked the Prime Minister for enquiring about his well-being, the aide said.

Maniyar also said that Pawar told Modi that he was resting and had no worries about the country, as others were there to take care of things.

The latest hospital admission was confirmed by Supriya Sule, who said her father was being taken to Breach Candy Hospital for further tests.