Yashwant Sinha's son defends Centre, says GST, note ban game-changers for India
New Delhi: Jayant Sinha, Minister of State for Civil Aviation and son of senior BJP leader Yashwant Sinha, on Thursday came to the defence of the Centre after his father slammed the Government over India’s “sinking economy”.
He defended the Centre's claim that Indian economy is the fastest growing in the world and that the country's credibility has been established in the international arena.
This comes a day after senior BJP leader, Yashwant Sinha launched a scathing attack on the BJP-led Central Government's economic policy.
Read: BJP refutes Yashwant Sinha's remark, says Indian economy fastest growing in world
Sinha, a former finance minister during the Vajpayee-government, hogged the limelight and started trending high on social media on Wednesday morning, after he criticised his own government for a sinking economy, in an article he penned for The Indian Express.
Read: Note ban a 'disaster', says BJP's Yashwant Sinha; Cong calls for reality check
The former minister of state for finance, Jayant, in an editorial in Times of India said, "These structural reforms are not just desirable, they are necessary to create a ‘New India’ and provide good jobs for our billion-strong workforce. The new economy that is being created will be much more transparent, globally cost-competitive, and innovation driven. Importantly, the new economy will also be much more equitable thereby enabling all Indians to lead better lives".
Lauding Modi's recent decisions, Jayant said that GST, demonetisation and digital payments were game-changing efforts to formalise India’s economy.
A streamlined, rules based FDI regime is inspiring confidence: FDI has accelerated from $36 billion in FY2014 to $60 billion in FY2017. Dismantling of Foreign Investment Promotion Board (FIPB) will make the economy even more open, he wrote.
"The Jan Dhan-Aadhaar-Mobile (JAM) trinity is powering Direct Benefit Transfer (DBT) and dramatically reducing leakages. Rs 1.75 lakh crore of benefits have been transferred directly to beneficiaries over the last three years. JAM is weeding out many ghost and fake beneficiaries and cutting out middlemen," he added.
Jayant concluded saying "We are creating a robust new economy that will power long-term growth and job creation for ‘New India’".
Earlier on Wednesday, senior Congress leader and former finance minister P Chidambaram lauded Yashwant Sinha for the strongly-worded article.
Read: Wings have fallen off our plane: Rahul mocks at Ex-FM's article
Congress Vice President Rahul Gandhi also took a jibe at Modi government's economic policy, and shared Sinha's opinion piece on Twitter.
(With agency inputs)
