FM Arun Jaitley blasts UPA's 'rent seekers', highlights positives of Modi sarkar

NEW DELHI: Finance Minister, Arun Jaitley, has hit out at the UPA for disrupting the country's business environment and accused the Manmohan Singh government of crony capitalism and Congress party leaders of becoming “rent seekers and name lenders."
In a blog, 'The fall of UPA's crony capitalism ­- A year of reform', the finance minister contrasted the UPA regime with one year of NDA, pointing out how things were vastly different now. The word “corruption" is being removed from India's political dictionary, the finance minister claimed.

"The whole parade of industrialists lining up outside South Block and North Block is now over. The corridors are empty, the silence cheery," the FM wrote, listing the steps taken to eliminate corruption.

The environment ministry has set up institutional mechanisms whereby clearances based on objective criteria are being routinely granted, the FM said, contrasting it with what he referred to as the "for sale" sign hung over all ministries under the UPA.

"Coal blocks were allocated at virtually no price. Environmental clearances were up for sale. The Congress Party leaders had become rent seekers and name lenders," Jaitley said, lashing out at the UPA days before the Narendra Modi government completes one year in office.

"Businessmen and industrialists lined up to (meet) ministers and party functionaries to seek favours. Chits were regularly issued from party functionaries to Ministers indicating the name of the allottee to be favoured with State largesse," FM wrote, adding that investigative agencies such as the CBI and the Enforcement Directorate (ED) were directly controlled by political individuals.

"The agencies whose primary job was to unearth corruption had themselves been corrupted. Courts had to regularly intervene to seek action against the pos sible guilty," Jaitley wrote. "Even the former Prime Minister, Dr Manmohan Singh, was not spared on account of the self-destruct policies of the UPA."

"Investing in India inherently includ ed the risk of prosecution. Was it any wonder that investors fled the country?" the FM wrote.

In contrast, he said the NDA ministers, had no role other than laying down the policy.

"There is a thrust towards reforms and liberalisation but no crony capitalism no harassment. The "scam and scandal corruption and retribution" Raj is be hind us," the FM wrote, adding that “environment of 'prosecute the investors' has been completely reversed."

He said after controlling the fiscal deficit and with revenues looking up, the government was turning its attention to strengthening social sector schemes.

Over 15 crore Jan Dhan accounts have been opened and the government was trying to put money in those accounts, said the FM pointing out that 12.6 crore beneficiares were getting LPG subsidy in their accounts.

The insurance scheme for accidental death, life insurance scheme, and the Atal Pension Yojana that were launched by PM Modi on May 9 have received a good response in short time. "The unpensioned section of the Indian society will become a pensioned one."

He also dismissed criticism that MGNREGA was not getting attention.“Additional money has been allocated for MGNREGA. The enhanced resources of the State will be increasingly used towards infrastructure creation, irrigation and social sector schemes."

“Herein lies the difference between UPA's crony capitalism and institutional destruction and NDA's liberalisation and anti-corruption, combined with an emphasis on both strengthening institution building and social security for the poor and vulnerable."