After Yashwant Sinha, former Cabinet Minister and World Bank economist Arun Shourie on Wednesday categorically blamed the economic slowdown on Prime Minister Narendra Modi’s policies.
Shourie said that Modi government does not pay any heed on experts' advice and decisions on country’s economic policies are being taken by “two and a half persons” –- Amit Shah, PM Modi and an in-house lawyer — in “a sealed echo chamber”.
Terming the demonetisation an “idiotic jolt” to the economy, Shourie told NDTV that “it was the largest money-laundering scheme ever, conceived and implemented entirely by the government.”
The Reserve Bank of India had said that 99 per cent of banned currency notes came back into the banking system and which suggests government’s aim to destroy black money was not achieved.
Shourie was also quick to take on Modi government’s another major policy reform - the Good and Sevices Tax (GST) - and said the move was implemented poorly.
“The rules have been amended seven times within three months,” Shourie said the “event management of the GST—imagine! A tax reform is being compared to the independence of India.”
Shourie’s comments on government’s economic mismanagement came days after BJP leader and former Finance Minister Yashwant Sinha blamed Modi government for making “economy a mess”.
Sinha showing a picture of India’s economy’s had said, “Private investment has shrunk as never before in two decades, industrial production has all but collapsed, agriculture is in distress, construction industry, a big employer of the workforce, is in the doldrums.”
Sinha has also criticised Modi government for banning old currency notes and termed the demonetisation as “an unmitigated economic disaster”.
Like Shourie, Sinha too raised questions on the implementation of GST and said the move was “badly conceived” that played havoc with businesses.
BJP, however, terming both Sinha and Shourie as frustrated politicians, has dismissed their claims.
Reacting to BJP’s response, the former cabinet minister in Atal Bihari Vajpayee’s govt, Arun Shourie said: “this is their Standard Operating Procedure.”
“They should publish a list in advance of frustrated persons,” he added.
He also echoed similar voices to Sinha that others in BJP also share their views on government’s economic policies but are scared to raise their voices.