New Delhi, Sept 27: Former Finance Minister and senior Bharatiya Janata Party (BJP) leader Yashwant Sinha has spoken out against the way his own party has dented India’s economy. In a recent column written for English news portal The Indian Express, Sinha has said that many in the BJP know that the economy is on a downward spiral, but are not speaking up in fear. He has hit out at Finance Minister Arun Jaitley for his handling of the economy and decisions. (Here is the Oppositions reaction to the article) Also Read - Prove Corruption Charges or Face Criminal Defamation Suit, Narayanasamy Hits Back at Amit Shah
In the strongly-worded article titled ‘I need to speak up now’, Sinha said that demonetisation proved to be an “unmitigated economic disaster” and that the Goods and Services Tax (GST) was “badly conceived and poorly implemented”. Sinha has gone on to take a jibe at BJP President Amit Shah for citing ‘technical’ reasons for the recent fall in GDP. He added that since the BJP changed the method of calculating growth, the GDP is actually even lower than what it has been quoted to be. Also Read - CAIT Announces Nationwide Movement Against New Amendments in GST and E-Commerce
He has also called raids by Income Tax department, Enforcement Directorate and Central Bureau of Investigation “a new game to instill fear in the minds of people,” adding that the BJP protested against these when they were in the Opposition while now it has become the order of the day. Also Read - Ghulam Nabi Azad Praises PM Modi, Says "Proud Of Leaders Like Our PM, Doesn't Hide True Self"
Sinha concluded his article by saying, “The prime minister claims that he has seen poverty from close quarters. His finance minister is working over-time to make sure that all Indians also see it from equally close quarters.”
This comes even as Finance Minister Arun Jaitley on Wednesday said the government would be taking “additional measures” to boost the economy, to which Sinha has said, “We are waiting with bated breath.”
The figures of first quarter of fiscal 2017-18, released last month, showed the GDP growth rate falling at 5.7 per cent. In the concurrent period last year, the GDP was soaring ahead at 7.6 per cent.
Meanwhile, former finance minister and Congress leader P Chidambaram has reacted to Sinha’s article, asking, “Will Power now admit the Truth that economy is sinking?” Taking to Twitter, Chidambaram said, “Yashwant Sinha speaks Truth to Power. Will Power now admit the Truth that economy is sinking?” “ETERNAL TRUTH: No matter what Power does, ultimately Truth will prevail,” he added.