It is a matter of concern when former Finance Minister Yashwant Sinha says that the current economy is in mess and he argued the reasons behind the mess in a detailed article published in The Indian Express titled “ I need to speak up now”
Will the Prime Minister and Finance Minster take note of the comment made by former finance minister or will they ignore this as an opposition argument?
No one can deny the fact that in recent times the India’s economy is in mess. Opposition made a point of criticism on a host of issues like demonetization and GST. Everyone remembers the comment made by Former Prime Minister Manmohan Singh about the demonetization when he said in the parliament that the demonetization is nothing but an organized loot of the public money by the government. He also predicted a decrease of 1 to 2 % in GDP.
Attacking on the Finance Minister, Mr. Sinha said that the reason behind the decline in economy is self created as the finance portfolio requires a 24*7 commitment while the Finance Minister holds more than three Ministries at a time. So taking so many extra responsibilities simultaneously might be one reason of not taking care properly the finance portfolio.
Taking a jibe on Prime Minister, Mr. Sinha said that Prime Minister claims that he has seen poverty from close quarters. Mr Jaitly in his capacity as a Finance Minister is working overtime to make sure that all Indians also see it from equally close quarters.
Mr. Sinha also dismissed the claim that slow down is due to technical reason citing a statement from SBI which says that it is not a technical, it is here to stay. This statement is openly contradicted what BJP president said just few days ago that the slowdown was on account of technical reason and it will be corrected soon.
If these facts are taken into consideration, one may understand that the economy is really in the mess and if serious steps to curb down the current mess would not be taken than situation may get worsen in the days to come.