March 22, 2018

Arun Jaitley: Opposition devoted to cash dominated economy

26 October 2017, 12:55 | Marta Robbins

Indian economy remains on strong wicket, says Arun Jaitley; insists GDP slide reversing

Arun Jailtey Jaitley

Jaitley, a senior BJP leader, said it will be the Bharatiya Janata Party's major programme, in which all Union Ministers, Chief Ministers and senior party leaders will participate.

Separately, in a bid to counter the opposition's plan to observe the first anniversary of the November 8 demonetisation as "Black Day", the ruling BJP said it will celebrate the day as "Anti-Black Money Day" across the country. "The party has chose to celebrate the day as anti-black money day", Union Finance Minister Arun Jaitley said, while addressing the media on Wednesday. "The Finance Minister should have used the words before understanding it", he added. He pointed out that sale of gold through digital transactions doubled this time on dhanteras festival.

"Instead of pursing the corporates not returning the loans they have taken from the banks..., the government has virtually pardoned the loan defaulters", it said.

Apparently referring to the opposition criticism, Jaitley said it was normal for political parties which had a number of opportunities to be in power earlier not recognize that the squeeze on black money and the other steps can not be achieved through baby steps. They had reconciled to India living with a shadow economy.

He said the government had now realised the "bad condition" of the economy and has woken up to the situation by announcing a financial package.

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The Opposition parties, led by the Congress, had said that they would observe "black day" on November 8 to registered their protest against the demonetisation, which was announced on the same day a year ago.

With his tweet, the Gandhi scion indicated his belief that Jaitley's positive forecast for the economy was a "farce" created to mislead people.

Attaching a tweet posted on Tuesday by the Press Information Bureau, the government's official publicity wing, which said that real GDP growth average was 7.5 per cent in the last three years, Rahul posted: "Dear Jaitley, May the Farce be with you".

Asked if the BJPs drive was because of "perceived criticism" of demonetisation among the masses, Jaitley said people are wise and had been voting resoundingly in the partys favour during elections that have taken place after the decision.

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