New Delhi, Feb 28 (IANS) Finance Minister Arun Jaitley Saturday took a dig at the previous United Progressive Alliance government during his budget speech, saying that people wanted "scam, scandal and corruption raj to end" and the Narendra Modi government has lived up to their trust.
Jaitley referred to the BJP-led National Democratic Alliance's historic victory in the Lok Sabha election last year and said people had voted resoundingly for quick change, faster growth and highest levels of transparency.
"They wanted the scam, scandal and corruption raj to end. They wanted a government in which they can trust. We have lived up to that trust," Jaitley said.
He also recited a couplet to target the previous Congress-led government which had battled several controversies.
"Kuch to phool khilaye humne, aur kuch phool khilane hai Mushkil yeh hai bag me ab tak, kaante kai purane hai. (We made some flowers bloom and have to make some others bloom. The difficulty is that there are many old thorns in the garden," Jaitley said to cheers from the treasury benches.
The minister said his government had inherited a sentiment of "doom and gloom" and the investor community had almost written us off.
"In November, 2012, CPI (consumer price index) inflation stood at 11.2 percent, the current account deficit by the first quarter of 2013-14 had reached 4.6 percent of GDP, and normal foreign inflows until March 2014 were $15 billion.
"We have come a long way since then. The latest CPI inflation rate was 5.1 percent and the wholesale price inflation was negative; the current account deficit for this year was expected to be below 1.3 percent of GDP...," he said.
Jaitley said the new government had turned around the economy dramatically, restoring macro-economic stability and creating the conditions for sustainable poverty elimination, job creation and durable double-digit economic growth.
"Domestic and international investors are seeing us with renewed interest and hope," Jaitley said.
He said the Modi government has undertaken several significant steps to energise the economy.
"The credibility of the Indian economy has been re-established. The world is predicting that it is India's chance to fly," Jaitley said.
The Reserve Bank of India (RBI) is going back to its 8-year-old opinion. It is in favor of a comp
Mr. Modi! You cost a lot. The pencil eraser has become expensive. The prices of my Maggi have als
Demat Accounts: Fast growing investors, 48 lakh Demat accounts opened in CDSL in the last quarter
The number of investors in the stock markets of the country is continuously increasing. In the qu
Amidst the growing threat of Corona, the Haryana government has decided to open schools for the c
India's veteran spinner Ravichandran Ashwin surprised everyone by suddenly retiring on Wednesday.
EAM Jaishankar in Australia: India and Australia have come closer to each other since the growing
Punjab News: BSF kills Pakistani infiltrator at BOP Channa in Amritsar, search operation continues
BSF has killed a Pakistani intruder near BOP Channa of Tehsil Ajnala, Amritsar. It is being told
Centre assures help over farmers crop loss
New Delhi, March 4 (IANS) The central government on Wednesday assured the states of extending a
Fortune Institute of International Business (FIIB) Delhi has started the registration process for
The Supreme Court has agreed to hear the petitions challenging the High Court order in the Karnat
