Arun Jaitley strikes back at Yashwant Sinha for criticising government's economic policies

NEW DELHI: Finance minister Arun Jaitley struck back at party colleague Yashwant Sinha for criticising his management of the economy. He also attacked Congress leader P Chidambaram, another former finance minister, and accused both of “acting in tandem”.

Jaitley said he does not have the “luxury” of being a former finance minister or of being one who has turned columnist, references to Sinha and Chidambaram, respectively. While speaking at a book release event on Thursday, Jaitley didn’t directly name the two former ministers.

Sinha had criticised Jaitley’s handling of the economy, demonetisation and the implementation of the goods and services tax in an article in The Indian Express on September 27.

Chidambaram had cited the article to launch his own onslaught on the same issues in the light of growth having slumped to a three-year low in the June quarter. “I can conveniently forget a policy paralysis. I can conveniently forget the 15% NPAs (non performing assets) of 1998 and 2002. I can conveniently forget the $4 billion reserve left in 1991 and I can switch over and change the narrative,” Jaitley said in references to the tenure of Chidambaram and Sinha at the finance ministry.

“Probably, a more appropriate title for the book would have been India @70, Modi @3.5 and a Job Applicant @80,” he said, playing on the title of the book being released — India@70 Modi@3.5. Jaitley also recalled the advice given to him by veteran BJP leader LK Advani after his first speech in parliament in 1999, when he spoke on the Bofors issue, to address issues and not make personal comments.

The finance minister said some of his predecessors had “decided to act in concert”. Jaitley quoted Chidambaram to recall the record of Sinha during his four years as the finance minister. “I thought Shri Sinha would be happy to remain a distant memory for the people of India.” “However, since he seems determined to stay relevant in his party, I am obliged to recall his record during his four years as finance minister. I may point out 2000-2001 and 2002-2003 were the worst years since liberalisation in terms of growth and Prime Minister Vajpayee had then to force him out and replace him,” Jaitley quoted Chidambaram as having said.