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NEW DELHI: Finance minister Nirmala Sitharaman on Saturday mentioned there was an ideological consistency in BJP’s method in direction of Indian financial system and enterprise since Jana Sangh days and the Budget has taken ahead the opening up course of, which began in 1991 leading to dismantling of the licence quota raj, drawing upon Narendra Modi’s expertise as chief minister of Gujarat.
“… since Jana Sangh days, BJP has consistently believed in India, respecting Indian entrepreneurial skills, Indian managerial skills, Indian trade skills, Indian business skills and Indian youth. We did not borrow something from somewhere and gave a hybrid (model),” the minister advised the Lok Sabha, whereas responding to the talk on the Budget, whereas attacking Congress for its financial ideology.
She mentioned the principal opposition Congress had been socialists at one time limit, additionally backed communism and created a system of licences and quotas, leading to crony capitalism, earlier than opening up of the Indian financial system in 1991.
She mentioned the privatisation plan, which has come underneath assault from the opposition as “selling the family silver”, requires a healthful technique. “…the policy, particularly the disinvestment in the PSE policy, does not allow for any kind of elementary or rudimentary approach to it”.
Countering criticism of the federal government opening up the financial system to the personal sector, and accusations of favouring sure enterprise homes, Sitharaman argued in favour of home companies, citing BJP’s financial philosophy because the Jan Sangh days.
“Our belief in India, our belief in Indian businesses and our belief in Indian economic strength has been consistent from Jana Sangh to BJP to, now, BJP… (it is) also going in a steady line of belief in Indian enterprises, giving them maximum freedom and giving them the respect that they deserve.”
She mentioned the Modi authorities believed in respecting wealth creators, taxpayers and trustworthy residents, and pointed to PM’s speech. “Unless the wealth-creators give the taxes and generate that kind of a lubrication in the economy, you are not going to have any money to distribute.”

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