Jaitley has only excuses to offer, no answer: Singhvi

The Congress on Friday said Finance Minister Arun Jaitley’s three alibis on the GDP growth down to 6.1% that demonetisation not sole reason, global factors and 7 to 8% as reasonable area of growth are no answers to the government’s own statistical department showing dismal economic performance.

"Is this accountability," asked Congress spokesman Abhishek Manu Singhvi, asserting at the AICC Press briefing that the slump in growth shows that the government has become "the biggest NPA (non-performance asset)" and its "Make in India" slogan for ease of doing business has in reality "ceased doing business."

He chided Prime Minister Modi for his eloquent silence on this state of economy while inviting foreign investors during his current trip abroad. He said the finance minister’s vague explanations at a press conference on Thursday only showed "utter confusion, bewilderment and bemusement" as he had no answer to the basic question of the GDP slipping.

What to say of an apology, there was not even acknowledgment that the Congress and other parties warned in November itself that the demonetisation will cause a havoc on the economy, Singhvi said.

He said luckily Jaitley did not cite the legacy factor he always quotes to justify the government’s failure nor did he blame the Congress but that job was completed by Maharashtra Chief Minister Devendra Fadnavis accusing the Congress of fomenting the farmers’ agitation in his state.