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Tuesday, December 11, 2018

Is Arun Jaitley an ideal definition of a 'flop' Finance minister, in terms of performance of the Indian Economy and its trends?

In the opinion of Mr.Sriram. D. thru Quora Digest Answered on May 8 2018
Modi needs a chamcha who can dance to his whims and thats why AJ is sticking around though he was a failure right from 2014 election to every decision Modi has taken autocratically, like DeMo and hasty GST implementation. Earlier he messed up Defence ministry for a while and corporate affairs exposing his ignorance all the way possible
Image result for pic of Arun jaitly cartoonImage result for pic of Arun jaitly cartoon
Corporate lawyer without finance or economic knowledge is a disaster for Indian economy for the last 4 years and arrogance/ego of Modi didn’t allow him to change to any other capable person (Subramaniya Swamy has openly criticised AJ several times) and paved the way for a downfall of BJP’s govt in ensuing elections. Fact is people hate to see AJ in any forum as he is getting so irritated even for a normal question showing his impatience and lack of knowledge (e.g. he didn’t know the difference between Provision for bad debts and write off while discussion about Banks NPAs in the floor of parliament !!!)
Hopefully saturn holding on India Finance Ministry will be relieved whatever may be the outcome of 2019 election

By Lalit Bhatt May 11 2018 thru Quora Digest

Arun Jaitley is a celebrated criminal lawyer and I have great respect for him for that.However what he landed up doing is introduce all the elements of criminal laws in finance. It looked to me a misplaced assignment of responsibility.
I think the finance minister should only be an economist and not a lawyer or bureaucrat. There is a saying in economics that “Economist should have cool head and warm hearts.” What we see again and again is “Cold head and no hearts.” No one to blame but the people put in position brings their own intuitions.
Much better if we can divide the finance ministry into accounting and economics. Economics responsible for building the framework of finances and where the focus should go. Accounting should just deal with auditing and making sure that money is getting well spent.




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