Yashwant Sinha pulls up Modi government over ailing economy

He has said that the economy is in a mess and "raid raj" has become the order of the day. He also questioned the current methodology to calculate GDP numbers.

Former Finance Minister Yashwant Sinha asked uncomfortable questions to Finance Minister Arun Jaitley for 'the mess he has made of the economy'.

In an article published in Indian Express, Sinha writes, his concerns are 'going to reflects the sentiments of a large number of people in the BJP and elsewhere who are not speaking up out of fear.'

"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," Sinha said.

The veteran BJP leader said that the government's statistical changes in calculating GDP have inflated the figures by over 200 basis points, or 2 percentage points, annually. "According to the old method of calculation, the growth rate of 5.7 percent is actually 3.7 percent or less."

He has said that the economy is in a mess and "raid raj" has become the order of the day. He also questioned the current methodology to calculate GDP numbers.

He said "raid raj" has become the order of the day and the Income Tax department is investigating cases involving millions of people. "The Enforcement Directorate and the CBI also have their plates full. Instilling fear in the minds of the people is the name of the new game."

"Finance Ministry calls for the undivided attention of its boss in the best of times," said Sinha, implying that Jaitley's other portfolios (Corporate Affairs, Disinvestment and Defence for a time) prevents him from giving his full attention to the economy.

"The PM 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 added.

OneIndia News