A day after former finance minister Yashwant Sinha came out with a scathing attack on the government’s economic policies, his son Jayant Sinha defended the government in another newspaper column.
Jayant, who is minister of state for civil aviation in the Union cabinet, said that the economy is being transformed into “much more transparent, globally cost-competitive, and innovation driven”.
Without directly referring to his father’s article, Jayant wrote, “these articles draw sweeping conclusions from a narrow set of facts, and quite simply miss the fundamental structural reforms that are transforming the economy”.
“Moreover, one or two quarters of GDP growth and other macro data are quite inadequate to evaluate the long-term impact of the structural reforms underway,” he said.
“Importantly, the new economy will also be much more equitable thereby enabling all Indians to lead better lives,” he said.
Further defending the government policies he said, “GST, demonetisation and digital payments are game-changing efforts to formalise India’s economy. Transactions that were taking place outside of the tax net and in the informal sector are now being brought into the formal sector”.
Meanwhile, Yashwant Sinha stuck to his guns saying, “We used to blame the UPA for policy paralysis… after 40 months in power, we can’t blame the earlier government.”
In an opinion piece published in a national daily on Wednesday, Yashwant Sinha had criticised his own government’s handling of the economy. Sinha, who was finance minister in Vajpayee cabinet, wrote that he would be failing in his national duty if he did not speak up.
Even as the top BJP leadership and Prime Minister Modi’s cabinet ministers downplayed veteran leader Yashwant Sinha’s views where he criticised government’s economic performance, BJP MP Shatrughan Sinha threw his weight behind the latter.
“I’m of the firm opinion that everything that has been written by Mr Sinha is entirely in the party’s and national interest,” he tweeted.
(With inputs from PTI)