The Rajya Sabha MP said that the 'wrong policies' adopted during former finance minister Arun Jaitley's tenure were responsible for the economy slowing down.
BJP
lawmaker Subramanian
Swamy has said the withdrawal of Jammu and Kashmir's special
status was correct but the state of economy "needs to be
corrected" as this issue is also important for national security
and nation-building.
The
Rajya Sabha MP told reporters Sunday the "wrong policies"
adopted during former finance minister Arun Jaitley's tenure were
responsible for the economy slowing down. He also criticised
ex-Reserve Bank of India governor Raghuram Rajan for raising interest
rates.
"I
think the wrong policies adopted during the tenure of Arun Jaitley,
which are still in force, such as levying high taxes are some of the
reasons for the slowdown... Increase in interest rates by former RBI
governor Raghuram Rajan was one of the reasons (for the slowdown),"
said Swamy.
He
was speaking to reporters on the sidelines of an event in Pune.
Replying
to a question on the Centre's move to scrap the provisions of Article
370, which gave special powers to Jammu and Kashmir, and the
economy, Swamy said, "The economy needs to be corrected. My
advice was not sought on the economic front. My advice was sought on
Article 370, and it was done correctly."
"Yes,
the economy should be given priority. In fact, both things are
important for nation-building and national security," he added.
Jaitley
served as finance minister during the first term of the Narendra Modi
government. Jaitley, 66, is on life support at the All India
Institute of Medical Sciences in Delhi.
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