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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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Veeramani POCSO case: Vijay questions Stalin over earlier probe

Tamil Nadu Chief Minister Vijay has questioned MK Stalin over the handling of the Veeramani POCSO case, while Stalin has rejected allegations that the previous DMK government protected anyone.

Published

4 hours ago

September 25, 2026

APNLive Desk

Tamil Nadu Chief Minister and Tamilaga Vettri Kazhagam (TVK) president C Joseph Vijay has questioned DMK president MK Stalin over the handling of the POCSO case involving Gem Granites founder R Veeramani. The political exchange follows renewed investigation into allegations involving minor girls.

Vijay’s remarks came as the ruling TVK stepped up its questions about how the case was handled during the previous DMK government. The party’s IT wing has alleged that the earlier investigation was weakened and questioned why a final report was filed.

The allegations have been rejected by the DMK. Stalin has said that no order was issued by the DMK government to protect anyone in the case and has called the allegations false and defamatory.

What did Vijay say about the Veeramani case?

Vijay questioned Stalin over the handling of the case and demanded an explanation from the former chief minister.

The TVK has specifically questioned why action was not taken against Veeramani during the previous administration and why the earlier investigation resulted in a closure report.

The party has also raised questions about the role of officials involved in the earlier investigation. These are political allegations made by the TVK and have not been established as facts.

What is the Veeramani POCSO case?

The case concerns allegations of sexual abuse of minors involving R Veeramani, the founder of Gem Granites.

The case came under renewed scrutiny after a special POCSO court rejected an earlier closure report and ordered further investigation. The expanded probe has subsequently identified additional alleged survivors who were minors at the time of the alleged offences, according to current reporting.

The investigation is also examining the circumstances surrounding the earlier probe and whether there were any lapses in how the case was handled.

What has MK Stalin said?

Stalin has rejected allegations that the previous DMK government protected Veeramani.

He has said that no order was issued by the DMK government to shield anyone in the case. Stalin has also said that everyone responsible for the alleged offences, including anyone who aided or attempted to protect the accused, should face the law.

The DMK president has further said that the focus should remain on securing justice for the affected girls rather than making political allegations.

Why has the case become a political issue?

The Veeramani case has become the subject of a political dispute between the ruling TVK and the DMK over the handling of the earlier investigation.

The TVK is questioning the previous government’s handling of the case, while the DMK has denied that it intervened to protect the accused.

At this stage, claims about political interference or deliberate weakening of the earlier investigation should be treated as allegations unless established by the ongoing investigation or judicial proceedings.

India News

Congress protests against Gyanesh Kumar, demands Election chief’s resignation

Congress workers took to the streets against Chief Election Commissioner Gyanesh Kumar, with protests and demonstrations held over the party’s allegations concerning the Election Commission.

Published

5 hours ago

September 25, 2026

APNLive Desk

Congress stepped up its campaign against Chief Election Commissioner Gyanesh Kumar, with party workers taking to the streets and demanding his resignation amid the ongoing row over the Election Commission.

The protests followed repeated criticism by Congress leaders of the poll panel and its functioning. The party has alleged irregularities in the electoral process and has sought accountability from the Election Commission.

Congress leaders have also targeted Gyanesh Kumar personally, with Rahul Gandhi among those calling for the Chief Election Commissioner to step down.

Congress takes protest to streets

Congress workers staged demonstrations in different places as part of the party’s campaign against the Election Commission.

The protests featured sharp symbolism, including masks and handcuffs, as Congress sought to highlight its allegations against the poll panel and demand action against Gyanesh Kumar.

The demonstrations are part of a wider confrontation between the Congress and the Election Commission over issues related to electoral rolls and the conduct of elections.

Congress demands Gyanesh Kumar’s resignation

The Congress has repeatedly demanded the resignation of Gyanesh Kumar, accusing the Election Commission of failing to adequately address the concerns raised by the opposition party.

Rahul Gandhi has also stepped up his criticism of the poll panel. In a statement on Thursday, he demanded that Gyanesh Kumar resign and alleged that the Election Commission had acknowledged the issue of “vote theft”. These are allegations made by the Congress and should not be treated as an established finding unless confirmed by the relevant authority.

The dispute comes amid a broader political debate over electoral rolls, voter verification and the functioning of the Election Commission.

Election Commission under opposition scrutiny

The Congress has intensified its campaign against the poll body in recent weeks, with party leaders repeatedly questioning its decisions and procedures.

The Election Commission, meanwhile, has maintained that India’s electoral process is conducted according to the Constitution, electoral laws and prescribed procedures. Chief Election Commissioner Gyanesh Kumar has previously defended the integrity of the electoral system and rejected claims that electronic voting machines can be remotely hacked.

The latest protests add to the continuing political confrontation over the Election Commission and the opposition’s demands concerning the poll panel’s functioning.

India News

Akhilesh Yadav launches SP’s 2027 UP poll campaign from Rahul Gandhi’s seat

Akhilesh Yadav launched the Samajwadi Party’s 2027 Uttar Pradesh Assembly election campaign from Rae Bareli, represented by Rahul Gandhi in the Lok Sabha.

Published

14 hours ago

September 25, 2026

APNLive Desk

Samajwadi Party chief Akhilesh Yadav has formally begun the party’s campaign for the 2027 Uttar Pradesh Assembly elections, launching the outreach from Rae Bareli, the Lok Sabha constituency represented by Congress leader Rahul Gandhi.

Yadav travelled through the area on the party’s newly launched PDA Rath before addressing a public meeting. The campaign vehicle carries the Samajwadi Party’s PDA messaging, referring to its focus on backward classes, Dalits and minorities.

Akhilesh Yadav discusses alliance with Congress

During his Rae Bareli visit, Yadav said the Samajwadi Party would contest the 2027 election as part of an alliance and indicated that seat-sharing would be decided on the basis of winnability.

He said the party would give a seat to whichever alliance partner is considered capable of winning it. The remarks come against the backdrop of the SP and Congress having contested the 2024 Lok Sabha election together in Uttar Pradesh.

Rae Bareli has particular political significance for the Congress as Rahul Gandhi is its sitting Lok Sabha MP. Yadav’s decision to begin the campaign from the constituency therefore placed the SP’s alliance with the Congress in focus.

PDA Rath becomes centrepiece of campaign

The PDA Rath was rolled out as part of the SP’s mobilisation ahead of the 2027 Assembly election. The vehicle prominently carries the party’s PDA messaging, with PDA standing for Pichhde, Dalit and Alpsankhyak.

The campaign is aimed at taking the SP’s social-justice messaging to voters across Uttar Pradesh as the party prepares for the Assembly election.

During the programme, Yadav also attacked the BJP and raised issues including the Election Commission and what he described as the alleged misuse of election machinery. These are political allegations made by the SP chief and should be understood as such.

BJP reacts to Akhilesh Yadav’s campaign

The launch of the PDA Rath comes as political activity intensifies in Uttar Pradesh ahead of the 2027 Assembly election.

The BJP has responded to Yadav’s campaign and his political messaging, while the SP has continued to focus its outreach on the PDA social coalition and its alliance strategy with the Congress.

The 2027 contest is still ahead, with parties using the period before the election to strengthen their organisational networks, public outreach and alliance arrangements.