In­dia is fastest grow­ing econ­omy, says Ra­j­nath

Top BJP lead­ers de­fended the eco­nomic sit­u­a­tion after for­mer fi­nance min­is­ter Yash­want Sinha slammed the gov­ern­ment over de­ci­sions like note ban and the GST

Times of Oman - - WORLD -

NEW DELHI: The BJP on Wed­nes­day re­jected its leader Yash­want Sinha’s crit­i­cism of the state of econ­omy, in­sist­ing the In­dian econ­omy is the fastest grow­ing in the world and some “un­cer­tainty” is bound to oc­cur when “trans­for­ma­tive” mea­sures like de­mon­eti­sa­tion and the GST are taken.

Top party lead­ers de­fended the eco­nomic sit­u­a­tion after for­mer fi­nance min­is­ter Sinha slammed the gov­ern­ment over de­ci­sions like note ban and the GST and said eco­nomic re­vival ap­peared “highly un­likely” and a “hard land­ing” in­evitable.

Home Min­is­ter Ra­j­nath Singh said the In­dian econ­omy is the fastest grow­ing in the world and the coun­try’s cred­i­bil­ity has been es­tab­lished in the in­ter­na­tional arena un­der the Modi gov­ern­ment.

“The whole world ad­mits that In­dia is the fastest grow­ing econ­omy in the world. No one should for­get this fact. In the mat­ter of econ­omy, in the in­ter­na­tional arena, In­dia’s cred­i­bil­ity has been es­tab­lished,” he told re­porters in ref­er­ence to Sinha’s views.

In a news­pa­per ar­ti­cle head­lined, “I need to speak up now”, Sinha crit­i­cised Fi­nance Min­is­ter Arun Jait­ley over what he called the “mess the fi­nance min­is­ter has made of the econ­omy”.

Se­nior party leader and Rail­way Min­is­ter Piyush Goyal said the gov­ern­ment would not flinch due to some crit­i­cism and “stay the course” as it works to trans­form the econ­omy.

Goyal, who has of­ten ar­tic­u­lated the party’s view on econ­omy, played down Sinha’s com­ments say­ing he is en­ti­tled to his opin­ions. “There is bound to be some un­cer­tainty when some trans­for­ma­tive changes are made. It (econ­omy) may take some amount of time to ab­sorb these changes but this will pass. Chal­lenges come but we will stay the course. The gov­ern­ment is stead­fast in its re­solve to end black money and cor­rup­tion. It won’t flinch due to some crit­i­cism,” he said.

To a ques­tion if the gov­ern­ment Read re­lated story on­line Chidambaram lauds Yash­want Sinha’s cri­tique on In­dian econ­omy is con­sid­er­ing stim­u­lus pack­age to perk up econ­omy, he said it is “too early to walk down that road” and the fo­cus right now is on the Goods and Ser­vices Tax.

Some “good” an­nounce­ments re­lated to is­sues like ex­port may be made fol­low­ing the GST coun­cil meet­ing on Oc­to­ber 6, he said. Goyal also re­jected crit­i­cism of de­mon­eti­sa­tion, claim­ing it that it ticked all the boxes and sent out the mes­sage that the gov­ern­ment means busi­ness when it comes to curb­ing black money and cor­rup­tion.

Never be­fore, he said, In­dia has been such a “pivot” to the world econ­omy as it has been since the Modi gov­ern­ment took over in 2014 and it has fo­cused on struc­tural re­forms and wel­fare mea­sures to help the poor.

It has been the fastest grow­ing big econ­omy in the last three years, he said. The gov­ern­ment, he said, is work­ing over­time to pro­vide power to all house­holds by 2018, house and toi­lets by 2022 and cited sev­eral mea­sures to high­light its fo­cus on im­prov­ing the poor’s life­style. Full story @ time­so­fo­man.com/world

- PTI

UP­BEAT: Home Min­is­ter Ra­j­nath Singh on Wed­nes­day said the In­dian econ­omy is the fastest grow­ing in the world and the coun­try’s cred­i­bil­ity has been es­tab­lished in the in­ter­na­tional arena un­der the Modi gov­ern­ment.

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