In the column, "Class of 2014" (December 5), Mihir S Sharma's assessment of Finance Minister Arun Jaitley as an under-performer is uncharitable and against the facts. If the economy was not doing well, Jaitley would have been blamed, but when it is doing well, the credit must go to him. Let me list his achievements.
On the macroeconomic side, the fundamentals are stronger than ever. Inflation and fiscal deficit are down, revenue collection is up, flow of foreign direct investment into India is higher than in China and the USA. Even the growth rate is up.
On the monetary side, Jaitley has achieved financial inclusion of the un-banked population by providing universal access to the banking system through Jan-Dhan Yojana, payment banks and small finance banks (two niche models). Former Reserve Bank of India governor Subir Gokarn admitted as much in his column, "To sum up…" (November 30).
On the fiscal side, with regard to indirect tax, the collection is extremely positive and tax terrorism is a thing of the past. Jaitley has taken positive steps to reduce bogus litigation.
Sukumar Mukhopadhyay, New Delhi
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