Addressing a press conference here today, Jha said Sinha's statements omitted the fact that the world was hit by a financial turmoil in 2007-08.
"Sinha deliberately chose to distort facts by not mentioning it," he said.
"When the whole world was in turmoil, India grew at around 9 per cent and 140 million people were brought above the poverty line. India achieved growth and equity. It was inclusive growth. Foreign exchange reserves were USD 300 billion.
Hitting out at the Gujarat model of development, Jha said the state was in the forefront of crony capitalism.
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"People are asking fundamental questions about development and growth. They have realised that lot of good positive work has been done and the BJP is nervous. Gujarat is a case study in crony capitalism.
"The Gujarat Chief Minister did not know what was happening in 2002. BJP is a party of not merely the rich, but super rich," he said, adding that if there had been no Parliament paralysis, GDP would have grown by an additional 1.25 per cent.