Jaitley hits back at Yashwant, reminds of 1991 crisis, calls him ”a job applicant at 80”
28 September, New Delhi
In an acerbic but witty attack, Finance Minister Arun Jaitley on Thursday sought to demolish the criticism of party colleague Yashwant Sinha over his handling of the economy, tracking the latter’s own track record as finance minister.
Jaitley also described Sinha as ”a job applicant at 80,” insinuating that he was venting out his frustration at not being accommodated in the government and party organisation.
The Finance Minister’s remarks came while speaking after releasing a book ‘India@70, Modi@3.5
In a hard-hitting piece in the Indian Express yesterday, ‘I need to speak up now’, Sinha had launched a scathing attack on Jaitley saying ”I shall be failing in my national duty if I did not speak up even now against the mess the Finance Minister has made of the economy.” He had also described demonetisation as an ”unmitigated economic disaster” and GST as a ”badly conceived and poorly implemented” regime that had played havoc with businesses and industry.
Jaitley’s predecessor in the previous UP government P Chiamabarm had backed Sinha’s assessment.
Hitting out at both, the Finance Minister said, ” I must confess that I don’t have the luxury as yet of being a former finance minister. Nor do I have the luxury of being former finance minister who has turned an columnist. So, I can conveniently forget the policy paralysis, 15 per cent NPA, 4 billion foreign reserve left in 1991, ” in obvious reference to the state of economy during the tenure of both as finance ministers.
He also cited some paragraphs from his ”research” on what both had said of each other’s performance in office.
Jaitley did not agree with the view that the economy was slowing down or the GST had any unforeseen impact.
”Direct tax figures are 15.7 pc over nad above last year’s figure, he pointed out.
Defending Modi’s note ban decision, Jaitley said cleaning economic system was no small step or achievement. “There was no way in India you could do business without relying on alternate mechanisms of payment….It had corrupted us as a society and also had tarnished our image globally,” he said.
Jaitley wound up his speech with a swipe at Sinha, saying, ” the name the book he released today should be ‘India@70, Modi@3.5 and a job applicant @80”.
The book has been co-edited by head of the Prime Minister’s Economic Advisory Council and Press Secretary to the President, Ashok Malik.