Arun Jaitley
Days after resuming charge as Union Minister of Finance and Corporate Affairs, senior BJP leader Arun Jaitley on Sunday lashed out UPA-I and UPA-II governments, saying that the economy has undergone a positive transformation ever since NDA came to power in 2014.
Taking to both Twitter and Facebook, Jaitley summarised the latest report released by the IMF. He said that a comparison of the data released by the IMF in 2014 and 2018 will prove how the two UPA governments failed in areas like high inflation, fiscal deficit, standstill infrastructure, power sector and allocation of natural resources.
“We have come a long way. The last four years have seen a series of reforms, both legislative and otherwise, which have been carried at by the Government. The system have been substantially cleaned up and made more transparent,” Jaitley tweeted.
"The last four years have seen a series of reforms, both legislative and otherwise, which have been carried at by the Government. The system have been substantially cleaned up and made more transparent. Decisiveness has led to easier decision making and made the economy stand out before several other countries. I would urge all to read these two reports, the copy of which are now publically available", Jaitley wrote on Facebook.
Drawing comparison to 2014 and 2018, the Finance Minister said that while the NDA government's policies on stability-orienetd macroeconomic policies and progress on structural reforms bore fruit despite demonetisation and implementation of GST, IMF had predicted a slow economic growth of 4.6 per cent during 2014 fiscal year. In its report, IMF also stated that during 2014, India had very little room to adopt countercyclical policies, constrained by persistently-high inflation, and sizeable fiscal and external imbalances.
