Free Press Journal

NDA’s first year saw move away from crony capitalism: Jaitley


Arun Jaitley

New Delhi: The NDA government’s first year has seen a move from scams, scandals and corruption to a non-discretionary and “rule-based” governance not witnessed in a decade, Finance Minister Arun Jaitley said on Tuesday.

“In one year we have moved from ‘scam, scandal, corruption & retribution Raj’ to Jan-Dhan Vikas & Suraj,” Jaitley tweeted.

“In last one year NDA government has promoted nondiscretionary & rule based governance not felt in the last one decade,” he said in another tweet.

In a lengthy Facebook posting titled “The fall of UPA’s crony capitalism”, Jaitley said the word “corruption” is being removed from India’s political dictionary.

“The environment of ‘prosecute the investors’ has been completely reversed. There is a thrust towards reforms and liberalization but no crony capitalism, no harassment,” he said.

In contrast to the situation till a year ago, “the whole parade of industrialists lining up outside South Block and North Block is now over. The (government office) corridors are empty, the silence cheery,” Jaitley added.

Detailing the government’s achievments like the Jan Dhan financial inclusion scheme, coal auctions and the LPG subsidy transfer scheme, he said: “There is no role of ministers except in laying down policy. Prices are determined by a market mechanism and the successful bidder is determined by auction.”