Finally, Finance Minister Arun breaks his silence and defended the government and said that has been the first time in history that for three years in a row India’s economy has been termed one of the fastest growing economy in the world.
He denied that the stimulus package announced on Tuesday for the crippling banking sector has been done in wake of upcoming elections. He claimed it as long-term reform measures and also added that it has nothing to do with elections. The Government on Tuesday cleared a whopping Rs 14 lakh crore package that included investments in key development sectors such as Rural Roads, Housing, Railways, Power, Highways and Digital Infrastructure, apart from a massive recapitalization plan for public sector banks.
He doesn’t forget to make a scathing attack against Congress, the Finance Minister said that the party’s state leaders have much knowledge about the Goods and Services Tax (GST) than the national leader, Rahul Gandhi himself. He further said that by demanding to bring everything under the 18% slab the oppositions wants to help those who spend on luxury items. Does Congress want to make BMWs & Mercedes cheaper?”, he asked.
This is the third major announcement in the financial sector after last year’s demonetization and the implementation of Goods and Services Tax (GST) regime.
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