BJP, Opp. spar over economy in RS

The Congress on Thursday hit out at the government over the prevailing economic situation in the country. In a short discussion in the Rajya Sabha, Congress MP Anand Sharma challenged the government over the GDP figures.

“I have one request to make, or a demand. Let the finance minister today agree that the GDP numbers as per the old series and news series be released tomorrow. Let the

Speaking about economic reforms Mr Jaitley said the government took structural reforms despite global weakness and back to back droughts

country know the truth. This year we have grown after five quarters of consecutive fall,” he said.

Reacting sharply, Union finance minister Arun Jaitley said, “India under the UPA had started losing credibility with large fiscal slippages, while the Modi government has brought down the 4.6 per cent fiscal deficit inherited from the UPA government. Today, we are talking only about marginal fiscal slippage.”

Speaking about economic reforms Mr Jaitley said the government took structural reforms despite global weakness and back to back droughts. Structural reforms like Aadhaar, Direct Benefit Transfer and GST are the structural reforms that the Opposition started, but the Modi government took them to a logical conclusion. He added, “Market has rewarded the fiscal prudence of the NDA government.” The finance minister further went on to assert that the ratings of the international rating agency Moody are a clear indication of the way the economy is going. Moody had upgraded India’s ratings.

Attacking demonetisation and hasty implementation of GST, the Congress members said that this has led to major unemployment and closure of factory units.