In a Facebook post titled ‘Dr. Hasmukh Adhia retires’, Jaitley said, “He was unquestionably a highly competent, disciplined, no-nonsense civil servant and of course, with impeccable integrity.”
Jaitley said that the move in the case of Andhra Pradesh was motivated by the fear of what is likely to happen than by any particular case.
The worst, he added, that can happen to free speech is “if a doubt in a mind of a reader or a viewer is created with regards to the integrity of the news or the opinion”.
The remarks come two days ahead of the crucial central board meeting of the RBI, amid a public spat between central
bank and government on certain policies.
On October 30, at the meeting of the Financial Stability and Development Council chaired by Jaitley and attended by Urjit Patel among others, the central bank is learnt to have downplayed the issue of liquidity crunch.
Jaitley said there is a need to bring down non-performing assets (NPAs) in the banking system in order to strengthen the banking system and support growth.
There has been only a marginal increase in the direct tax to GDP ratio after demonetisation. And the economy didn’t need to suffer for digitisation.
Countering the criticism over the implementation of the tax reform, Arun Jaitley said, “GST slowed down growth for two quarters, but people overlook how growth rose after that.”
Subhash Chandra Garg said there was “misinformed speculation” in the media, and that the government’s fiscal math was “completely on track”.
Jaitley termed the criticism of almost the entire cash getting deposited in banks post-demonetisation as “ill-informed”, adding that 17.42 lakh suspected accounts have come under the scanner.
In its counter, the RBI Board noted that “while any incidence of counterfeiting is a concern, Rs 400 crore as a percentage of the total quantum of currency in circulation in the country is not very significant”.
While Congress chief Rahul Gandhi castigated the Narendra Modi-led BJP government stating that the note ban exercise cost 1.5 million jobs and 1 per cent of India’s GDP, Finance Minister Arun Jaitley staunchly defended the move saying there was a spike in the number of taxpayers.
Calling November 19, when the RBI board is scheduled to meet, as the day of reckoning, the former finance minister alleged that “handpicked nominees” of the government would make every attempt to push through its proposals.
Demonetisation anniversary: Union Finance Minister Arun Jaitley said demonetisation has ushered in a better quality of life for Indian citizens.
Two years after demonetisation came into effect on November 8, 2016, the BJP-led government continues to defend the move meant to “wipe out illegal money” while the Opposition terms the step as “ill-advised” and “Tughlaqi”.