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Finance Minister Arun Jaitley Retaliates, Says So Called Slowdown Hasn't Impacted

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| October 1 , 2017 , 13:46 IST

Responding to the recent criticism by fellow party member Yashwant Sinha, Finance Minister Arun Jaitley said that Direct tax figures are 15.7% over and above last year's figure, so this so-called slowdown visualised by some hasn't even impacted.

Targeting former Finance Minister Sinha himself, Jaitley said, "I must confess that I do not have the luxury as yet of being a former finance minister. Nor do I have the luxury of being a former finance minister who's turned a columnist."

He went on to defend the work he has done in his tenure from GST to demonetisation. He said that demonetisation was to make sure that the anonymous tender which operated in market gets identified to its owner.

On GST he said, "Those who had pushed the country into policy paralysis, when they saw it coming, asked to postpone it."

"We gave opportunity to people to come clean about their accounts held abroad," the Finance Minister added.

Attacking opposition, Jaitley said, "Small areas which paralysed, at least UPA 2, because of discretions being used and misused we were completely able to distance ourself from these discretions itself."

Finance Minister Jaitley continued, "Prime Minister had a very strong agenda on creating a new normal as far as India shadow economy was concerned."

"There was no way in India you could do business without relying on alternate mechanisms of payment" jaitley said.

"It had corrupted us as a society and tarnished our image globally."

Earlier, former Finance Minister Yashwant Sinha had wrote an article in the daily national Indian Express criticising Arun Jaitley for his actions that 'decelerated' the Indian economy.

The 79-year-old politician, in his editorial titled 'I need to speak up now' had said that demonetisation and GST affected the Indian economy as small businesses and start-up suffered under its burden.