Here are 5 reasons why former FM Yashwant Sinha believes the economy is on a downward spiral and Raid Raj is rampant
Former finance minister Yashwant Sinha, now a dissident voice within the Bharatiya Janata Party (BJP), has spoken out against the way his own party has, apparently, dented India’s economy. In a recent column, 'I need to speak up now', written for The Indian Express, Sinha has said that many in the BJP know that the economy is on a downward spiral, but they are not speaking up due to fear. In one of the most scathing criticisms, Sinha said the distress in the economy was so deep that a revival was unlikely before the next general elections, and he also warned of a hard landing.
In hard-hitting words, Sinha said, "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."
What is the picture of the Indian economy today?
Private investment has shrunk, industrial production has collapsed, agriculture, real estate are in the doldrums, the service sector is in a slow lane, exports have dwindled. In short, according to Yashwant Sinha, the entire Indian economy is under stress.
Sinha added that demonetisation had proved to be “an unmitigated economic disaster”, and that the poor implementation of the Goods and Services Tax had sunk many businesses.(economy news)
Reasons for this decline have been allowed to accumulate over time to cause the present crisis, he said.
In hard-hitting words, Sinha said, "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."
What is the picture of the Indian economy today?
Private investment has shrunk, industrial production has collapsed, agriculture, real estate are in the doldrums, the service sector is in a slow lane, exports have dwindled. In short, according to Yashwant Sinha, the entire Indian economy is under stress.
Sinha added that demonetisation had proved to be “an unmitigated economic disaster”, and that the poor implementation of the Goods and Services Tax had sunk many businesses.(economy news)
Reasons for this decline have been allowed to accumulate over time to cause the present crisis, he said.
Here are five reasons why Yashwant Sinha believes the economy is on a downward spiral:
1. Arun Jaitley, the brightest star in the NDA govt: The finance minister's indispensability was established further when the prime minister rewarded him not only by giving him the finance ministry, including the department of disinvestment, but also the ministries of defence and corporate affairs. Four ministries in one go out of which he still retains three. "Finance ministry, in the best of times, calls for the undivided attention of its boss if the job has to be properly done. In challenging times it becomes more than a 24x7 job. Naturally, even a superman like Jaitley could not do justice to the task", said Yashwant Sinha....Read more
1. Arun Jaitley, the brightest star in the NDA govt: The finance minister's indispensability was established further when the prime minister rewarded him not only by giving him the finance ministry, including the department of disinvestment, but also the ministries of defence and corporate affairs. Four ministries in one go out of which he still retains three. "Finance ministry, in the best of times, calls for the undivided attention of its boss if the job has to be properly done. In challenging times it becomes more than a 24x7 job. Naturally, even a superman like Jaitley could not do justice to the task", said Yashwant Sinha....Read more
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