The central government could have reasons to breathe easy after Jayant Sinha, Minister for State for Civil Aviation, came to the defence of Modi government’s policies. As national polity remained dominated by what former Finance minister in the NDA government Yashwant Sinha claimed to be ‘poor handling of economy’, his son Jayant Sinha claiming as far as that recent articles critical of the government have drawn sweeping conclusions from a narrow set of facts. In an article penned for the Times Of India, Sinha said recent articles critical of the government miss “the fundamental structural reforms that are transforming the economy and that one or two quarters of GDP growth and other macro data are quite inadequate to evaluate the long-term impact of the structural reforms underway”. Sinha’s rebuttal comes a day after his father Yashwant Sinha, in a hard-hitting article penned for The Indian Express, that sector after sector of the economy was in distress and the November 8 demonetisation had proved to be an “unmitigated economic disaster”.
Rejecting his father’s criticism without naming him, Sinha said the structural reforms are not just desirable, they are “necessary to create a ‘New India’ and provide good jobs for our billion-strong workforce”. “The new economy that is being created will be much more transparent, globally cost-competitive, and innovation driven,” he wrote, and listed the several initiatives and achievements of the government. He also defended the demonetisation decision, saying transactions that were taking place outside of the tax net and in the informal sector are now being brought into the formal sector. This he said, would lead to higher tax collections and reduction of friction in the economy, and easier access of credit for citizens due to digitization of records.