Finance Minister Arun Jaitley today put out his reflections on the Narendra Modi-led NDA government’s four years in office. He said that in the last four years, Prime Minister Modi has transformed India from being a part of the ‘fragile five’ to a ‘bright spot’ on the global economic scene.
Fragile five was a reference used in 2014 for five emerging economies that were not doing well and were heavily dependent on foreign investment for economic growth. Jaitley today said that a regime of policy paralysis has been transformed into one of decisions and actions.
Hitting out at the Congress, the Finance Minister said that the ten years of the UPA rule had unquestionably witnessed the most corrupt government since Independence. “Prime Minister Modi created transparent systems through legislative and institutional changes which have given our country a scam-free governance,” he further said.
He said India is fast transforming from a tax non-compliant society to a tax-compliant society. The enactment and implementation of GST, the impact of demonetisation, effective tax compliance are all steps against black money, steps which are formalising the Indian economy, the Minister said.
Jaitley underlined the achievements of the current dispensation and said that the financial inclusion of people – women, scheduled castes and scheduled tribe, minorities and other weaker sections- unparalleled infrastructure development, fiscal consolidation and securing rights of all sections of society have been the highlights of the four years of transparent government under Prime Minister Modi.
Making a veiled attack on Rahul Gandhi, the Finance Minister said that the Congress President must remember that taxes don’t go into the pocket of the government. “They go back to the people for better infrastructure, better social sector expenditure and poverty reduction programmes,” he said.
Jaitley’s statement came days after Rahul Gandhi launched a scathing attack on the Modi government for excise duty on petroleum products.
In a separate post on Facebook, the Finance Minister said that the fifth and last year of the current term will be ‘our year of consolidation of the policies and programmes which we have implemented’.businesstoday