‘Move will not have a serious impact on poll outcome in Uttar Pradesh and Punjab’
Former Union Finance Minister Yashwant Sinha on Saturday said there was no noble intention behind Prime Minister Narendra Modi announcing the repeal of three farm laws against which farmers had been protesting for over a year. “This is a calculated move by the PM,” he said. The farmers and the people of India had seen through the intentions of the Union Government, which was trying to turn the upcoming State Assembly elections in its favour, he added.
Mr. Sinha was speaking to reporters online as part of an interaction organised by the Cochin Chamber of Commerce and Industry. He later addressed the Chamber as part of a series titled ‘India Forward’.
Referring to the upcoming elections in five States, including Uttar Pradesh, he said the Bharatiya Janata Party (BJP) lived to fight elections. Uttar Pradesh and Punjab were key states for the BJP, but the repeal of the farm laws would not have a serious impact on the outcome of polls in those States, said Mr. Sinha.
Mr. Modi had mistimed his move as the repeal of the laws came too late, he said. But, it would give the BJP a point to talk about, he added.
On the recent reduction in fuel prices, Mr. Sinha said it had been too small and there was a chance that the prices would climb up after the elections.
He said the Indian economy had been devastated, and micro, small and medium enterprises, which had accounted for 52% of industrial production in the country, at present accounted for only 30% of the production. Demonetisation, hurried implementation of the Goods and Services Tax, and the COVID-19 pandemic had seriously impacted the country’s economy, he added. The Indian economy was currently being sustained by agriculture rather than by industry and service sectors, said Mr. Sinha.
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