Economic stimulus not linked to Gujarat election, says Arun Jaitley

Finance minister Arun Jaitley said the recapitalisation of state-owned banks to the tune of Rs 2.11 lakh crore was not linked to the elections in Gujarat.

Finance minister Arun Jaitley rejected attempts to link Monday’s announcement of economic stimulus package to Wednesday’s announcement of assembly elections in Gujarat.

Finance Minister Arun Jaitley said structural reforms have nothing to do with politics. (Arvind Yadav/HT PHOTO)

“This is for the first time structural reforms is being undertaken. It has nothing to do with politics. It is a long-term plan and it has nothing to do with Gujarat elections,” he said.

Jaitley was reacting to comments linking the announcement of the package that included plans for recapitalisation of the state-owned banks to the tune of Rs 2.11 lakh crore.

He also attacked the Congress over its strident attack on the Goods Services Tax (GST), especially regarding the tax slabs, and asked if the Congress was in favour of luxury items.

Congress vice president Rahul Gandhi had denounced the highest 28% slab in the GST regime, saying the Congress favoured 18%.