Hope opposition mends its obstructionist ways: FM Arun Jaitley
NEW DELHI: Finance minister Arun Jaitley said the Narendra Modi government had emerged far stronger after BJP’s victory in assembly elections, especially the overwhelming Uttar Pradesh verdict, and will push ahead with much-needed reforms. “Government is emboldened, Opposition has been snubbed,” he said. He hoped the Opposition would give up its obstructionist ways, having learnt its lesson.
The mandate clearly demonstrated that the opposition parties had misjudged demonetisation.
“Opposition miserably failed to read both the economic and political impact of the demonetisation,” he told ET. “They thought it was an unpopular move. They did not realise that those who stood in queues did not protest. They exaggerated the economic impact. Data doesn’t support this.”
Also Read: PM Modi passes demonitisation test with flying colours, repeats 2014 show in UP
This meant the party had appealed to voters across traditional divides, widening its support base.
“In addition to BJP’s traditional vote, the poor man’s vote got added,” he said. “We crossed the barriers of caste. We also had poor from tribals of Odisha, slum dwellers in Mumbai to EBC (economically backward classes) in UP. It is only this support base that took us to a stupendous 43-44% vote share.
We also crossed the barriers of class... This is new support base we have added.”
The state elections had been billed as a mid-term referendum on demonetisation, the November 8 move by the government to cancel Rs 500 and Rs 1,000 notes, which formed 86% of the currency in circulation.
Also Read: All the updates, reactions and analytical takes on Assembly election results
On the issue of the reforms agenda getting a lift from the election results, Jaitley said what is needed will be done. “I won’t comment on individual reforms till we announce them. But certainly reforms that are needed will be done. Reforms are only the art of the possible,” he said.
There is expectation that the government could pursue contentious policy changes in areas such as labour laws, land acquisition, banking and foreign investment in retail after the massive electoral victory in Uttar Pradesh.
This will also boost the ruling coalition’s numbers in the Rajya Sabha, where the BJP has struggled to get key legislation passed.
“The composition (of the Upper House) is changing. I have in the past referred to it as creeping acquisition.
And that process will go on,” Jaitley said. On the goods and services tax (GST), Jaitley said it was election neutral and that the reform was on course.
The mandate clearly demonstrated that the opposition parties had misjudged demonetisation.
“Opposition miserably failed to read both the economic and political impact of the demonetisation,” he told ET. “They thought it was an unpopular move. They did not realise that those who stood in queues did not protest. They exaggerated the economic impact. Data doesn’t support this.”
Also Read: PM Modi passes demonitisation test with flying colours, repeats 2014 show in UP
This meant the party had appealed to voters across traditional divides, widening its support base.
“In addition to BJP’s traditional vote, the poor man’s vote got added,” he said. “We crossed the barriers of caste. We also had poor from tribals of Odisha, slum dwellers in Mumbai to EBC (economically backward classes) in UP. It is only this support base that took us to a stupendous 43-44% vote share.
We also crossed the barriers of class... This is new support base we have added.”
The state elections had been billed as a mid-term referendum on demonetisation, the November 8 move by the government to cancel Rs 500 and Rs 1,000 notes, which formed 86% of the currency in circulation.
Also Read: All the updates, reactions and analytical takes on Assembly election results
On the issue of the reforms agenda getting a lift from the election results, Jaitley said what is needed will be done. “I won’t comment on individual reforms till we announce them. But certainly reforms that are needed will be done. Reforms are only the art of the possible,” he said.
There is expectation that the government could pursue contentious policy changes in areas such as labour laws, land acquisition, banking and foreign investment in retail after the massive electoral victory in Uttar Pradesh.
This will also boost the ruling coalition’s numbers in the Rajya Sabha, where the BJP has struggled to get key legislation passed.
“The composition (of the Upper House) is changing. I have in the past referred to it as creeping acquisition.
And that process will go on,” Jaitley said. On the goods and services tax (GST), Jaitley said it was election neutral and that the reform was on course.
