Jaitley pointed out that while India’s growth rate is higher than many other countries, the inflation in the country is lower than many other nations of the world.
The prime minister will hold another economic review meeting with key policy makers on Saturday to discuss possible interventions by the government to address the macroeconomic challenges arising out of the depreciating rupee and steep rise in fuel prices.
It is also a fact that Mallya's companies did not get a single rupee as bank loan after Prime Minister Narendra Modi took over in 2014.
Addressing a press conference at the party headquarters in New Delhi, Rahul Gandhi questioned why Arun Jaitley didn't mention about his meeting Mallya earlier.
Responding to Congress president Rahul Gandhi's demand for a probe over Mallya's claims, BJP spokesperson Sambit Patra said those people who are out on bail should not be questioning people who are innocent.
“Since 2014, I have never given him any appointment to meet me and the question of his having met me does not arise,” Finance Minister Jaitley said in a Facebook post.
Claims made by Vijay Mallya were however refuted by the finance minister, who referred to it as “factually false.”
Union Finance Minister Arun Jaitley on Wednesday denied fugitive liquor baron Vijay Mallya’s claim that he met the minister before leaving India.
“Since 2014, I have never given him any appointment to meet me and the question of his having met me does not arise,” Finance Minister Jaitley said in a Facebook post.
FM Arun Jaitley slams Congress President Rahul Gandhi over Rafale deal allegations
The finance minister argued that Indian Rupee was not the only currency to be hit in the current global economy and if anything, INR strengthened vis-a-vis other international currencies in last four-to- five years.
"India's GDP for the first quarter this year growing at 8.2 per cent in an otherwise environment of global turmoil represents the potential of New India," Jaitley said in a tweet.
“Dear Mr. Jaitley, I guess your boss refused to hold a Joint Parliamentary Committee on the GREAT RAFALE ROBBERY? Too much to hide, too scared to face the people, I suppose...,” Gandhi scion tweeted on Thursday.
Giving account of several feats achieved by the government on the back of demonetisations, the FinMin claimed that the note ban helped in the formalisation of the economy, brought more money in the system, resulted in higher tax revenue, higher expenditure and higher growth after the first two quarters.
"This year, in terms of size, we have overtaken France. Next year we are likely to overtake Britain. Therefore, we will be the fifth largest (economy)," Jaitley said.
Earlier on Wednesday, Jaitley had said that Gandhi had converted the Rafale issue into a non-serious debate.
Jaitley, who recently resumed his role as the Union minister after surgery, posed 15 questions to the Congress party, claiming that they will expose their falsehood on Rafale.
Quantum in defence is always large. Therefore, quantum doesn’t mean anything. Please produce a shred of evidence that Government of India has anything to do with any of the offset suppliers for any contract, whether under UPA or NDA
The finance minister said that Rahul Gandhi is himself not sure about what price of the jet to quote.
Taking to both Twitter and Facebook, Jaitley summarised the latest report released by the IMF.
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