India getting increasingly polarised between growth seekers and obstructors – Finance Minister, Shri Arun Jaitley

India getting increasingly polarised between growth seekers and obstructors –

Finance Minister, Shri Arun Jaitley

Shri Arun Jaitley, Union Minister for Finance and Corporate  Affairs inaugurated opening session of 2nd edition of SBI’s ‘Banking & Economic Conclave’ in Mumbai today.  Conclave focuses on long term planning.

Micro economics indicators were negative previously, situation is stabilising now due to able leadership of Prime Minister Shri Narendra Modi and Finance Minister, Shri Arun Jaitley, said Shri Jayant Sinha, Minister of State for Finance. Growth rate of 9 to 10 percent will be achieved in over next 2 years – Shri Jayant Sinha (MoS)

Finance Minister, Shri Arun Jaitley today said that India is getting increasingly polarised between those who want to grow and those who want to obstruct.  He expressed displeasure about the frequent disruptions by the opposition parties especially by Congress in   recently concluded Parliamentary session.

This Session was disappointing as government could not do what it wanted but educating because the entire politics of  reform process could be understood, said Jaitly. He cautioned that this type of politics can cause damage to the economic growth of the country.

He also pointed out that the GST was envisaged by Congress in 2006, introduced in 2011, most of the States supported it and in 2015 the same Bill was opposed by Congress for no reason.  He said that a small segment is obstructing the whole proceedings of the Parliament and one need to understand the politics which is preventing the reforms.

He raised the question about the obstruction by indirectly elected representatives to the directly elected representatives.  He gave the example of the debate taken place in the Great Britain Parliament. Easing of our processes should take place.  State must be empowered and trusted.  Centre took many initiatives in last 15 months.

Today lesser and lesser business is controlled by the families however, politics is getting increasingly controlled by the families as they feel  that they have divine right to rule. Lowering of oil and commodity prices creating environment for growth in our country. In case of battle between growth and obstacles public opinion must have revulsion as the cost of obstruction is high then the things will move in right direction.