Note ban a disaster, GST poorly conceived: Yashwant Sinha lambasts Modi govt’s policies

Agencies
September 27, 2017

New Delhi, Sept 27: Senior Bharatiya Janata Party leader and former finance minister Yashwant Sinha launched a scathing attack on the BJP-led central government’s economic policies,saying that the economy is headed for a downward spiral.

In an opinion piece for the Indian Express, Sinha lambasts the government’s decisions on the economic front. “I shall be failing in my national duty if I did not speak up even now against the mess the finance minister has made of the economy,” writes Sinha, adding that many within the BJP are aware of the situation, but fear speaking up.

In the no-holds barred piece, Sinha says demonetisation proved to be an “unmitigated economic disaster” and that the Goods and Services Tax (GST) was a “badly conceived and poorly implemented” havoc.

Finance minister Arun Jaitley comes in for the bulk of the criticism, as Sinha writes, “Arun Jaitley is considered to be the best and the brightest in this government. It was a foregone conclusion before the 2014 elections that he would be the finance minister in the new government.”

Sinha further took on BJP president Amit Shah for citing ‘technical’ reasons for slowdown in the GDP rate and wrote, “Even the SBI, the largest public sector bank of the country, has stated with unusual frankness that the slowdown is not transient or “technical”, it is here to stay and the slowdown in demand has only aggravated the situation. It has openly contradicted what the BJP president said just a few days ago that the slowdown in the last quarter was on account of “technical” reasons and will be corrected soon.”

On that note, the figures of the first quarter of fiscal 2017-18, released last month, showed the GDP growth rate falling at 5.7 percent, while in the concurrent period last year, the GDP was soaring ahead at 7.6 per cent.

In his article, Sinha also took a jibe at raids conducted by Income Tax department, Enforcement Directorate and Central Bureau of Investigation and said that it has become “a new game to instill fear in the minds of people,” adding, “We protested against raid raj when we were in opposition. Today it has become the order of the day.”

He also ridiculed the “massive” loan waivers given to the farmers “varying from one paise to a few rupees.”

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.”

Sinha’s unsually sharp piece caused quite the stir and he started trending on social media. The Opposition has reacted strongly to the piece, with senior Congress leader and former finance minister P Chidambaram lauding Sinha’s words as proof that truth will prevail. “Yashwant Sinha speaks Truth to Power. Will Power now admit the Truth that economy is sinking?,” tweeted Chiadambaram.

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News Network
July 18,2020

Washington, Jul 18: The Foreign Direct Investment (FDI) from the US to India has crossed the $40 billion mark so far this year, reflecting the growing confidence of American companies in the country, the head of an India-centric business advocacy group has said.

The American companies, during the Covid-19 pandemic, which has battered the world economy, have shown great confidence in India and its leadership, said Mukesh Aghi, president of the US-India Strategic and Partnership Forum (USISPF), which keeps a track of the major US FDIs in India.

“Year to date investment from the US, including the recent ones, is over $40 billion,” Aghi said.

In recent weeks alone, the announcement of the FDI into India has been over $20 billion, he said, referring to the announcements made by some of the top companies like Google, Facebook and Walmart.

“Investors’ confidence in India is high. India still remains a very promising market for global investors. If you look at the $20 billion… not just the US, but (investment) has also come from other geographies such as the Middle East and the Far East.

“So, India still remains a very, very bullish market for the investor community,” Aghi said in response to a question.

The USISPF has been working with New Delhi to bring in FDI into India… playing a key role in encouraging American companies planning to move their bases out of China, he said, adding that the move was going on in the last three years of the Trump administration, but gained momentum during the coronavirus pandemic.

“We feel that Prime Minister (Narendra Modi’s) intention is very high. The challenges lie on the execution side. Efforts are being made to encourage manufacturing… I've never seen it so better. The policy framework is moving in the right direction,” he said.

Early this week, Larry Kudlow, the White House Economic Advisor, told reporters that the US tech giants like Google and Facebook announcing big investments in India shows that people are losing trust in China and India is emerging as a big competitor.

At the same time, he rued that India continues to be a protectionist country.

“The question is how do you define protectionism... the administration here is saying America first and India is saying vocal for local…,” Aghi added.

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News Network
June 26,2020

New Delhi, Jun 26: "Iam Indira Gandhi's granddaughter, not an undeclared BJP spokesperson like some of the opposition leaders," Congress general secretary Priyanka Gandhi Vadra on Friday said, as she alleged that the Uttar Pradesh government is threatening her through various departments for speaking the truth. Priyanka Gandhi's dare to the Uttar Pradesh government came days after the Agra administration asked her to withdraw within 24 hours the claim of high coronavirus deaths in the district.

The Congress general secretary in-charge UP East has accused the Yogi Adityanath government of indulging in propaganda instead of dealing with the pandemic. "As a public servant, my duty is towards the people of Uttar Pradesh. And this duty is to put out the truth before them and not to put forth government propaganda. The UP government is wasting its time by threatening me through its various departments," Priyanka Gandhi said in a tweet in Hindi.

"They can take whatever action they want, I will keep putting forth the truth. I am Indira Gandhi's granddaughter not an undeclared BJP spokesperson like some of the opposition leaders," she said. This week, Priyanka Gandhi repeatedly attacked the Uttar Pradesh government over the "high" COVID-19 mortality rate in Agra and on other issues related to the state government's handling of the pandemic.

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News Network
January 18,2020

New Delhi, Jan 18: Senior advocate Indira Jaising urged the mother of Nirbhaya to pardon the men on death row who were convicted for the 2012 gang rape of her daughter.

Jaising took to Twitter to make the request shortly after Asha Devi on Friday expressed her disappointment following a Delhi court postponed the date of the execution of the four convicts.

"While I fully identify with the pain of Asha Devi I urge her to follow the example of Sonia Gandhi who forgave Nalini and said she didn't not want the death penalty for her. We are with you but against the death penalty," Jaisingh tweeted.

Asha Devi lashed out at Jaisingh suggesting pardon for the convicts. "I can't believe how Indira Jaising even dared to suggest such this. I met her many times over the years in Supreme Court, not once she asked for my wellbeing and today, she is speaking for convicts. Such people earn livelihood by supporting rapists, hence rape incidents don't stop," Asha Devi told ANI.

Nalini was arrested and convicted for her role in the assassination of former prime minister Rajiv Gandhi in 1991.

Earlier on Friday Asha Devi had lashed out at the courts and the government stating that "the same people who had in the year 2012 gone around participating in rallies and raised slogans for women's safety are playing with the death of my daughter for their political gains. They have stopped the execution for their political gains."

The death-row convicts who were earlier slated to be executed on January 22 at 7 am are set to be hanged on February 1 at 6 am.

Asha Devi rued that the convicts got what they wished for. "I will not be satisfied until they are hanged," she added.

Four convicts, Vinay, Akshay, Pawan and Mukesh were convicted and sentenced to death for raping a 23-year-old woman in a moving bus in the national capital on the intervening night of December 16-17, 2012.

The victim, who was later given the name Nirbhaya succumbed to injuries at a hospital in Singapore where she had been airlifted for medical treatment.

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