Arun Jaitley, Indian economy and Facebook

Requesting ‘Minister Without Portfolio’ Arun Jaitley to write a facebook post to clear the air about the de facto finance minister in the Modi cabinet, Congress spokesperson Randeep Surjewala on Friday launched a scathing attack on ‘Modinomics’.

Rather than lecturing on various subjects which have nothing to do with the economy, Arun Jaitley would do better to write facebook posts on Modinomics, he suggested.

Surjewala tweeted, “Double whammy of ‘Jumlanomics’ strikes again ! In its last lap, Modi Government is making sure that all indices of economy remain vulnerable…Industrial growth plunges to a seven month low ! Retail inflation soars to a five month high…Will FM’s asleep at the wheel answer?”

He also drew Jaitley’s attention to media reports on the health of LIC. “Life Insurance Corp’s NPA’s have risen by 26% to ₹22,700 Cr, which is half of IDBI bank’s NPA! Modi Govt wants to risk hard earned savings of 38 Cr Policy Holders by forcing LIC to buy stake in loss making IDBI. But LIC’s own NPA’s are rising insurmountably! Waah Modinomics!”, he tweeted.

Refuting Jaitley’s claim made in a facebook post that while Indian National Congress had given slogans to rural India, the Modi Government had empowered it with resources, Surjewala said facts speak for themselves. He also pointed a finger to the lack of clarity in the Government.

“The Agriculture Minister gives us a lecture on defence, the Defence Minister enlightens us on Social Justice, the Social Justice Minister gives us a sermon on foreign policy while the Foreign Minister who was reduced to Twitter found herself at the receiving end of trolls and the ruling party or the government failed to protect her… Is it a government ? ‘Minimum government, maximum governance’ was the slogan which Modi had given but it has become ‘one man and no government’, he charged.

He was reacting to Arun Jaitley, recovering from a kidney transplant, saying in a facebook post, “ Being the fastest growing economy for the last four years, we can look at the next decade as one of economic expansion. We have already seen a significant move up in India’s ranking in the ease of doing business and as a preferred investment destination. Today we stand to be tested in the midst of a global challenge thrown up on account of the international crude oil prices and the trade war.”

On June 18, Congress had asked PM Modi to clarify whether Arun Jaitley is Union Minister of Finance or Piyush Goyal. The website of the Finance Ministry mentions Arun Jaitley as Finance Minister of India, while PMO’s website claims Piyush Goyal to be the Union Minister of Finance.