Yashwant Sinha's remarks on Indian economy based on 'personal frustration': BJP

The Bharatiya Janata Party (BJP) on Friday described former union finance minister Yashwant Sinha's criticism on the state of the Indian economy as an unfair criticism based on 'one's personal frustration.'

Speaking to ANI here, BJP spokesman G.V.L. Narasimha Rao said, "The ten years of the UPA Government at the Centre was one of the most corrupt ever. The reality is Rahul Gandhi, Chidambaram and many others are finding themselves jobless and those who sympathises with such jobless leaders are also making an unfair criticism not based on facts, but based on one's personal frustration."

BJP national spokesperson (Economic Affairs) Gopal Krishna Agarwal refuted the Congress' claim of economic mismanagement and said that at present, the Union Government is doing very fine.

Commenting on Finance Minister Arun Jaitley's recent remarks over the state of economy, Agarwal said, "Today the former talked about all the economic issues rather than aiming at an individual.

"Today, Jaitley categorically explained all the economic issues which are at present in debate like how the policies have worked fine in regards to demonetisation, in regard to implementation with the GST. How the Government is pro-active in solving the problems of people; how the Government is tackling the NPA problems; how much expenditure Government is taking into infrastructure?" he added.

A day after Bharatiya Janata Party (BJP) veteran Yashwant Sinha castigated Finance Minister Arun Jaitley of making a mess of Indian economy; the latter on Thursday defended the government policies and said he does not have the luxury of being a former finance minister.

Taking a dig at the former finance minister, Jaitley at a book release programme 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. Therefore, I can conveniently forget a policy paralysis, four billion reserve left in 1991 and I can switch over and change a narrative. Speaking on persons and then bypassing the issues is something which is very easily done."

Backing the demonetisation move Jaitley said that the government intended to expose the black money market and track down those operating in it.

"Demonetisation was not synonymous with confiscation of money. We gave an opportunity to people to come clean about their accounts held abroad. The prime minister had a very strong agenda on creating a new normal as far as the shadow economy in India was concerned," he said.

Jaitley further said that he is being criticised for bringing out reforms too quickly.

"I am being criticised for doing incremental changes. Post GST, the biggest criticism was that why I implemented it so quickly after demonetisation," he said.

Jaitley also took the occasion to downplay remarks that the economy is on a downward spiral and said, "The Direct tax figures are 15.7 per cent over and above last year's figure, so this so-called slowdown visualised by some, hasn't even impacted.