The financial situation of the country is very bad. Corrective steps need to be taken immediately to improve it. Otherwise, the financial condition of the country will only get worse. Former Union Finance Minister Yashwant Sinha said there was a need for radical change in the country to eliminate the financial crisis ahead of the country.
Yashwant Sinha, who is on a tour of Kolhapur, told reporters today. At this time, he strongly criticized the overall economic policy of the BJP government led by Narendra Modi at the Center. He said that the country’s financial position has worsened due to two reasons for the blockade and the imposed GST. The present government is blindly pursuing economic policies. The implementation of GST was expected to increase revenue by 15%. In fact, revenue has not increased by five percent. In the meantime, changes made in GST from time to time have become even more dangerous.
Targeting Prime Minister Narendra Modi directly, Yashwant Sinha said that drastic measures need to be taken to improve the economy. The only chest for this is a large chest and does not work. The country faced a recession in 1991, 1998 and 2008. As the recession at that time was global, there were some underlying causes. In 1991, the Iran-Iraq war took place. So the oil prices went up. Its big impact was on the Indian economy. In 1998 there was a worldwide recession. India had a nuclear blast there. So many countries around the world have imposed restrictions on us. As a result, you are facing a recession. “The recession of 2008 was a global one,” he said.
To overcome the recession, the government announced a tax exemption of Rs 2.75 lakh crore in corporate tax. This has been the benefit of only a few private companies. Now the emotional issues are added to the financial issues. It does not appear that the entire Cabinet is working on any issue, making decisions. Finance Minister Yashwant Sinha repeatedly said that he does not know what we are doing.