Speaking to CNBC-TV18, former Finance and Foreign Minister Yashwant Sinha said India has sent across the message that it will strike hard when needed.
In today's edition of Indianomics, former Finance Minister Yashwant Sinha outlined the politics of GST and said that too many GST rates will lead to administrative and legal problems and added that GST should be kept as simple as possible.
Speaking to CNBC-TV18 Former Finance Minister Yashwant Sinha said the railways can‘t be treated like any other department. "My own feeling is that the Finance Minister will have to grant a lot of autonomy to the Ministry of Railways, he said.
He said there is a need for debate on this and there should be comparable figures of economic growth from the previous years which can validate the claims of recovery.
After blaming RBI earlier for keeping interest rates high, former finance minister Yashwant Sinha today trained his guns on banks for keeping lending rates high and asked them to pass on the entire 75 basis points cut in the policy rates to borrowers.
Now, this tradition needed to be broken, Sinha said. Once the DTC and GST were introduced, the entire Budget Speech would become irrelevant, he said. Sinha said that the practice should be that the Finance Minister should make some proposals in the Budget which should then be discussed in Parliament and then finalized at a later session.
He also suggested that the time has come for RBI to cut interest rate by at least 0.5 percent if not one percent because the inflation is almost zero. Referring to the GDP numbers released by Central Statistics Office, Sinha said there is a need for greater scrutiny of data provided by the government body.
Goa Chief Minister Manohar Parrikar has accepted Prime Minister Narendra Modi's invitation to join the Union Cabinet and will move to Delhi. Parrikar could get the charge of the Defence Ministry which is currently held by Arun Jaitley as an additional charge along with the Finance Ministry portfolio.
Prime Minister Narendra Modi, in his Independence Day address, had announced that the Planning Commission would be scrapped and replaced with a new institution.
The think tank meet was aimed at "reinventing" the Planning Commission in line with Prime Minister Narendra Modi's vision.
Sushma Swaraj will contest from Vidisha in Madhya Pradesh. Latest entrant to the party former RJD leader Ram Kirpal Yadav will fight from Pataliputra. Yeddyurappa's aide Shoba Karanladge has also been given a ticket. Son of former finance minister Yashwant Sinha - Jayant Sinha will fight from Hazaribagh.
On the argument of windfall gains for Reliance, the SC bench remarked: "If someone is spending on a project like this, it will not be for charity. It will look for some profits."
The former Delhi CM is likely to attack the Congress VP Rahul Gandhi too on the same.
BJP leader and former finance minister Yashwant Sinha supported the steps taken by the Reserve Bank of India to curb inflation. He said the RBI was forced to hike rates as the government had abandoned its responsibility of controlling inflation.
Yashwant Sinha, member, BJP says the fact that the political party is opposed to the goods and services tax (GST) is an utter lie.
According to a report submitted by Parliamentary Standing Committee on Finance headed by Yashwant Sinha, the production cost would increase by Rs 1,384 per tonne with every increase of USD 1 per Million British Thermal Unit (MMBTU) in gas prices.
People now believe that this government is on its way out and they can look forward to better times under the NDA, says BJP leader Yashwant Sinha.
After emerging victorious in state elections, Yashwant Sinha told CNBC-TV18 the decisive win is a result of people's anger and a points towards national referendum.
Sinha has pointed out that TRAI has reduced the price of 1 MHz of spectrum pan-India by 37 percent, and the reduction is much steeper for key circles like Mumbai and Delhi at 50 percent.
The former coal secretary PC Parakh today said, â€œPrime Minister could have overruled my decision; everyone was equally responsible in the matterâ€, adding that he was not sure why the CBI had named him.
Yashwant Sinha's comments came after Parakh, against whom CBI had yesterday registered a case in connection with the scam, said Prime Minister Manmohan Singh was the final decision maker and must be counted as a "conspirator" in the case.
Parakh has hit out at the PM, saying if he is to be blamed for the scam, then the PM too is an accused.
Policies by Congress government have ruined India‘s coal sector and resulted in huge corruption, says Former Finance Minister and senior BJP leader Yashwant Sinha.
Arun Jaitely said the every member of the finance committee, which is headed by BJP's Yashwant Sinha, is opposed to raising foreign investment cap in insurance to 49 percent from the current 26 percent.
The government has agreed to a suggestion by opposition parties to take up the insurance bill in the next session of Parliament, after passing the pension bill in the current session. The insurance bill, pending in the Rajya Sabha since 2008, provides for increasing the foreign investment limit in the sector to 49 percent from 26 percent.