Economy grew 7.2% in H1, inflation in comfort zone: FinMin
Finance Ministry on Friday said that the Indian economy grew 7.2 per cent in the first half of the current…
BJP MP Subramanian Swamy on Sunday criticised
the Finance Ministry alleging “lack of preparedness” in dealing with
the demonetisation of two high-value currencies and said the ministry not being
in loop of decision-making is “no excuse”.
“I am appalled by the lack of
preparation… We have been in power for nearly two and a half years. The
finance ministry should have prepared for this from the very first day. It is
easy to argue that the ministry was not in the loop, but that is no excuse for
not having a contingency plan,” Hong Kong’s South China Morning Post daily
quoted Swamy as saying.
Swamy is currently in Hong Kong and will
deliver a talk on anti-corruption efforts in India at the Foreign
Correspondents Club tomorrow.
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The Harvard-educated economist further said,
“Ad hoc roadside kiosks should have been set up for all and special kiosks
organised for senior citizens. All these should have been planned as part of a
contingency plan.”
The Rajya Sabha member, who had consistently
attacked former RBI governor Raghuram Rajan and had also taken potshots at
Finance Minister Arun Jaitley, said, “The previous government gave the
contract for currency paper to the same London-based company that supplies
currency paper to Pakistan, helping Pakistan counterfeit Indian notes and
finance militancy in India at zero cost.”
Asked why the government is yet to book
anybody with foreign accounts said: “That question has to be directed at
the finance ministry, not me. I have no clue why nothing has been done.”
On Saturday, Jaitley had regretted hardships
caused due to withdrawal of high denomination notes, but advised the public to
be patient as the move will have larger benefits for the economy in the long
term.
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