BJP is a creating a robust new economy which will create jobs in long term, says Jayant Sinha

A day after Yashwant Sinha penned his opinion piece over the Modi-government's poor decision making with regards to economy, his son Jayant Sinha altogether took a different stand by writing a piece a in Times of India favouring Modi-government.

The Union Minister of State for Civil Aviation, Jayant,  in the article wrote, “We are creating a robust new economy that will power long-term growth and job creation for `New India'.”

He further wrote,  “The structural reforms unleashed by the Modi government since 2014 constitute the third generation of reforms.”

According to the civil aviation minister, the first generation is the one introduced in 1991 by then finance minister Manmohan Singh and the second generation was by the National Democratic Alliance during the 1999-2004.

In the published article Jayant has mentioned that "GST, demonetisation and digital payments are game-changing efforts to formalise India's economy."

The opposition is targeting the BJP-government after the demonetisation of Rs 500 and Rs 1000 notes and GST stating that the small and medium scale industries were not ready for the roll out.”

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Jayant in his article supporting the BJP-government moves wrote, “In the long term, formalisation will mean (a) tax collections go up and more resources are available to the state; (b) friction in the economy is reduced and GDP goes up; and (c) citizens are able to establish credit more effectively as transaction records are digitised."

He also pointed out other policy initiatives including the Bankruptcy Code aimed at resolution of bank NPAs, push for infrastructure like road building and rural electrification and boost for startups.

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The civil aviation minister further argued that the Modi-government initiatives will open economy, make it transparent, competitive and innovation-drive.