We will reinvestigate all scams: Sinha

The former finance minister said India must focus on investment-led growth than consumption-led growth

The BJP, if it comes to power, will reinvestigate all the scams unearthed by the CAG, and using the same CBI that worked under the UPA government, said Yashwant Sinha, a senior BJP leader, in Bangalore on Wednesday. 

 

"Be it the coalgate or the 2G scam or many other scams that have happened under the oversight of the UPA government, all the scams will be reinvestigated. We will get to the root of all the scams," said Sinha, who was in Bangalore to address BJP cadres here. 

 

Earlier in the day, speaking at an event that was organised by industry body FKCCI, he said, "India must focus on investment-led growth than consumption-led growth. The focus on consumption-led growth was the reason for the economy seeing a low growth rate and at the same time faced inflationary pressures." 

 

Sinha was very critical of the UPA government's economic policies over the last decade. Speaking the interactive session with businessmen, he was critical of the UPA government's polities that has led to the slowing down of Indian economy. 

 

The Indian economy has seen a sharp fall in its growth from 2008. The economy that had been growing at 8 per cent or more before that began to see a sharp fall in its rate of growth. Sinha blamed it on the lack of investment in the economy. 

 

"Today, we are happy with a growth of just 4.5 per cent," he said criticising the sentiments prevalent in the country today.  He said, the government pumped in Rs 3 trillion and spent it on less productive investments. Infusion of that cash has lead to the inflation which has had a devastating effect on the common man. The food inflation, he said, was not because of the lack of foodgrain availability. While there are mounds of foodgrains rotting away in the open, food prices are rising, he said. He blamed this on the mis-directed investments which were going into consumption.

 

On if promises such as the one made by Jayalalithaa where she had promised TVs, mixer grinders and other consumer durables would stand in the way of the coalition formation, Sinha said: \"I call this the silly season. Let's not take them at face value." 

 

He did not spare the UIDAI chairman Nandan Nilekani, who oversaw the implementation of Aadhar as the UIDAI chief. Sinha said, he will be asked to answer for the failure of Aadhar. "All we have to show for the hundreds of thousands of crore spent on Aadhar is a Congress ticket for Nilekani," charged Sinha.