Jaitley: PM must assert himself to rescue economy

Jaitley claimed that industrial and infrastructure projects worth more than seven lakh crore rupees were stuck,often because ministers were not taking decisions or because of court cases.

The PM must have the last word when his ministers dont take a decision because of internal squabbling. The Prime Minister must say that Yes,I want an investment board,or I am clearing that project in the cabinet committee,or fixing a time line for my minister to clear these projects. Reforms are,after all,the art of the possible. But that is not happening, he said.

Jaitley said the government had wasted the opportunities before it to turn around the India story. Nine years is a long enough time for a government to leave its footprint. It can even turn around the destiny of the country. Leave an imprint on history. But this government,through various corruption scandals and scams,has ensured that the buzz and enthusiasm about India has turned into cynicism.There are big question marks over the credibility of this government. Policy paralysis is not a phrase invented by us. Leading commentators on politics and economy across the world have been using it to describe situation in the country, he said.