NDA defeat in Bihar no setback to economy: Jaitley

New Delhi, (PTI): Attributing the NDA’s defeat in Bihar assembly elections to ‘huge index of opposition unity’, Finance Minister Arun Jaitley today said it will not impact the economic reforms process.


“I don’t see it as a setback to the economy… structural reforms will continue. They should continue at a rapid pace,” he said.

Admitting that some irresponsible statements by certain BJP functionaries during the course of elections did change the narrative, Jaitley said the “index of opposition unity” was one of the biggest factors that led to the victory of the Mahagathbandhan in the Bihar assembly elections.

While the ruling NDA managed to get 58 seats (BJP 53) in the 243-member Bihar assembly, Mahagathbandhan got 178 seats.

The alliance comprises JD(U), RJD and Congress.
On whether Bihar election was a referendum on the policies of the Centre, Jaitley, in an interview to ET Now, said, “The word referendum is loosely used… every election is not a referendum. A state election is not a referendum. You are not contesting on one issue.”

He further said that the vote share of BJP has not come down and the victory of the Mahaghatbandhan was on account of different opposition forces coming together.

About reforms, Jaitley said government would continue them by taking executive actions and also in the Budget, which would be announced in February next year.
On the specific question of the pending Goods and Services Tax (GST) bill, he hoped that Bihar, which is a consuming state, would support the legislation.

“I don’t see (Bihar election outcome) as a setback to the economy at all. If under Nitish Kumar, Bihar grows and grows well, we have already announced economic package for the state, certainly we are going to help.

“Our commitment is the states which need to develop more we have to help them more,” Jaitley said.

1 Comment

  1. NDA defeat in Bihar no setback to economy: Jaitley-reports,

    Dear readers,

    As long as ‘Pink revolution’ worth $5 Billion remains the driving force of economy even ‘Lentil’ which cost twice doesn’t matter for party of difference which want to shine India.

    The International Brent is sold less than $50 per barrel but BJP’s ‘Sabka Saath,Sabka vikas’ is still not reaching ‘Aam admi’ and citizens are paying the price during UPA when Internation Brent is hovering around $150/Barel.Only God knows why the Indians are paying double taxation on each liter being sold.

    As weak monsoon already left great impact to the agrarian depended economy,it has nothing to offer the farmers who are taking ‘pesticide’ to end their plight.

    The essential commodities,life saving medicines are already skyrocketing,while Modi’s ‘Good governance’ has only got ‘Yoga’ to offer the hunger from its basket.

    This is in fact what I have been trying to impress upon the leaders of secular parties including Congress. Communalism is a cover up for the forces of economics to silently advance the agenda of the corporate world. This had happened when Ayodhya Movement was launched. While the media and the polity were busy in fighting out the communal issue, privatisation was silently pushed. The second round of privatisation began under Modi, and again the political parties including Congress and the leftists are busy countering it. Rahul Gandhi did well by raising economic issues. But with Bihar election results, this needs to be the pivot of the future campaign. There is a need to arrest Economic Disparity, General, Urban-Rural, Community-Community, which is the major reason of the backwardness of the country in general and Muslims in particular.

    AAA(Adani,Ambani and Advani) powered and remotely operated non representatives by Nagpur Parliament of RSS, the Indian economy is not moving beyond beef,beef and beef politics.While RSS is busy issuing character certificates to the Union ministers who discloses everything breaking the oath of secrecy.

    The communal politics is very effectively used to divert the mainstream agenda of development,black money promises during 2014 Lok Sabha elections, for majority Indians living below poverty line roti,kapda aur makan remains still distant dream.

    While Maunendra Modi is occasionally breaking silence to be heard saying his ‘mann ki baat’, ‘Dil ki baat’ is silently carried by RSS functionaries.

    Jai Hind

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