New Delhi: A day after former Union Minister Yashwant Sinha criticised the Centre’s economic decisions, his son Jayant Sinha, minister in the National Democratic Alliance government, on Thursday dismissed articles “drawing sweeping conclusions” on the matter.
The minister of state for civil aviation defended the Centre’s economic policy, and said that the government was undertaking structural reforms to create a “New India”. “Goods and Services Tax, demonetisation and digital payments are game-changing efforts to formalise India’s economy,” wrote Jayant Sinha.
Jayant Sinha added that “one or two quarters of GDP growth” were inadequate to assess the long-term impact of the reforms.
Former Union minister Yashwant Sinha had attacked the government for the decline in the Gross Domestic Product growth rate to 5.7% in the April-June quarter. He had described the Centre’s demonetisation exercise as “an unmitigated economic disaster”. Sinha had said that despite low global oil prices, Finance Minister Arun Jaitley had failed to use the extra finances at his disposal to revive the economy.