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This Is A Govt Of 2.5 Persons, PM Modi, Amit Shah And A Lawyer: Arun Shourie

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| October 4 , 2017 , 08:30 IST

Soon after BJP leader and former finance minister Yashwant Sinha levelled a critique of on the state of the economy, another former union minister and BJP leader Arun Shourie has criticised the government for the economic slowdown, terming it a "government of two-and-a-half persons, that is, Narendra Modi, Amit Shah and one in-house lawyer".

Slamming the demonetisation move, Shourie said to NDTV, "It was the largest money-laundering scheme ever, conceived and implemented entirely by the government."

ALSO READ: Deceleration Of Economy Began Before Demonetisation, Says Yashwant Sinha Slamming Arun Jaitley

Terming demonetisation as an "idiotic jolt" Shourie continued, "everyone who had black converted it into white," referring to RBI's earlier statement that 99 percent of the demonetised currency had returned to banks, indicating that black money was not entirely destroyed by the demonetisation.

While Yashwant Sinha had primarily targeted Finance Minister Arun Jaitley for the faults with the economy, Arun Shourie placed the blame on Prime Minister Narendra Modi.

“This is a government by ‘ilhaam’ (revelation). The Prime Minister has the ‘ilhaam’ one night that demonetisation should be done and he does it. In any case, it was a bold step. I have to remind you suicide too is a bold step,” Shourie said.

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“Which argument (offered by the government in defence of demonetisation) today survives? Black money? All of it turned white. Terrorism? Terrorists are still coming into India. At the end they have nothing to say,” he added.

Shourie also hit back at BJP President Amit Shah's statement that the current economic slowdown is “due to technical reasons” saying that figures don't lie and that persons like Yashwant Sinha, P Chidambaram and several other economists have been “talking about facts”.

“And those facts emerge from official reports such as The Economic Survey, the RBI surveys, the SBI’s report etc. Is it a fact or not that GDP has collapsed to 3.7 percent according to the old series? Is it a fact or not that index of industrial production has gone down from about 9 percent in 2015-16 to about 1.7 percent in April to July? Is it not a matter of concern?” Shourie said.

“This is a government of two-and-a-half persons, that is, Narendra Modi, Amit Shah and one in-house lawyer. They don’t have the expertise and they have surrounded themselves by persons who don’t have the expertise," he continued.

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“They are now in a sealed echo-chamber. They don’t hear what is happening. The distress the RBI has documented of small and medium enterprise. These poor fellows had been clamouring and shouting. Nobody heard them,” Shourie said.

“Their core competence is event management. They are so self-satisfied with it. They are just briefing each other, not listening to others... They are concerned about 300-feet statutes, bullet trains etc,” Shourie said.

The former minister added that the government's policies must have predictability, stability and credibility to reassure the investors and industry of what they can expect and not be taken by surprise by sudden government policy changes.

Taz manai

Sour grapes Shourie sir.

PRASANTA CHANDRA DASH

Time time Ki baat hai.

Anantha krishna

For real prosperity, GDP Growth must be higher than Inflation by at least 1.5%. Higher the better and Lesser is dangerous. Let's check History and compare Present. ------ Atal Ji Era ------- 2004 Inflation : 3.78% GDP : 6.2% Status : ✅ ------- Congress Era ----- 2005 Inflation : 5.57% GDP : 8.4% Status : ✅ 2006 Inflation : 6.53% GDP : 9.2% Status : ✅ 2007 Inflation : 5.51% GDP : 9% Status : ✅ From here on began the era of monumental scams where assets (stocks, gold, real estate) got inflated due to relentless printing of high denomination notes & black money brought from abroad through PNs, over invoicing of exports etc. This bloated up the real GDP growth & hiked up the prices making it unaffordable for common man and culminated in Congress getting 44 seats in LS’14. 2008 Inflation : 9.70% GDP : 7.4% Status : ❌ 2009 Inflation : 14.97% GDP : 7.4% Status : ❌ 2010 Inflation : 9.47% GDP : 10.4% Status : ❌ 2011 Inflation : 6.49% GDP : 7.2% Status : ❌ 2012 Inflation : 11.17% GDP : 6.5% Status : ❌ 2013 Inflation : 9.13% GDP : 3.2% Status : ❌ ---------- Modi Era ------ 2014 Inflation : 5.6% GDP : 7.2% Status : ✅ 2015 Inflation : 6.32% GDP : 8% Status : ✅ 2016 Inflation : 2.23% GDP : 7.1% Status : ✅ 2017 Inflation : 3.36% GDP Second Quarter - 5.7% (After implementation of path breaking measures like Demonetization and GST to clean up corruption & black money in the economy) It's on how you read and how you remember things. Those who forget history are condemned to repeat it. It's our Inadaptability to accept Change that Create Negativity. Adapt to the system of Transparency.