'BJP will bring down inflation if it comes to power'

Former finance minister Yashwant Sinha has said his party will bring down inflation and create space for the Reserve Bank of India (RBI) to cut interest rates if it comes to power.
By HT Correspondent | PTI, New Delhi
UPDATED ON DEC 22, 2013 12:43 PM IST

Former finance minister Yashwant Sinha has said his party will bring down inflation and create space for the Reserve Bank of India (RBI) to cut interest rates if it comes to power.

"If BJP comes to power, then we will undo damage done by this government, by containing inflation and making space for RBI to start bringing down interest rates," he told PTI.

Buoyed by BJP's good showing at the recently-concluded assembly elections, Sinha, who was finance minister during 1998-2002 in the BJP-led NDA government, exuded confidence that BJP would get around 200 seats in the Lok Sabha elections and would be able to form government. The general elections are due early next year.

His advice to the Congress, which got a drubbing in the assembly elections, on dealing with the current price situation is "flooding the market with foodgrains and bring inflationary expectations down".

"We have done it," he said.

Food Corporation of India (Fci) has at present a stock of 65 million tonnes of foodgrains in its godowns compared to an annual requirement of 61 million tonnes of foodgrains to meet the requirements under the Food Security Law.

During the last five years, food inflation and retail inflation have remained high causing great discomfort to common man. Costly vegetables, particularly potato and onion, had pushed the November wholesale inflation to a 14-month high of 7.52%.

Retail inflation had jumped to 11.24% in November from 10.17% in October. Elaborating further Sinha said: "You start with food inflation, release foodgrains liberally in the market, you release foodgrains to the Public Distribution System (PDS), you release foodgrains for food for work programmes.

"We did in those days when we were in power, released foodgrains for food for work programme. Now they have MNREGA, they can say half of wages will be paid in foodgrains. Third give it to the millers liberally so that they can make aata, maida and release it in market."

"Look how RBI Governor Raghuram Rajan created so much happiness in industry by not raising rates by 25 basis points. When he starts reducing interest rates by 25 basis points or 50 basis points, it would automatically create euphoria, create confidence," he said.

Last week, RBI in its mid-quarter monetary policy review surprised markets by leaving all key policy rates unchanged, notwithstanding persistent high inflationary pressure. The short-term lending rate was kept unchanged at 7.75%, while the cash reserve ratio (CRR) remained at 4%.

SHARE THIS ARTICLE ON
Close
Commerce and Industry Minister Piyush Goyal.(PTI File Photo)
Commerce and Industry Minister Piyush Goyal.(PTI File Photo)

Actively pursuing Airbus to begin manufacturing in India: Piyush Goyal

PTI, New Delhi
PUBLISHED ON FEB 27, 2021 10:21 PM IST
Addressing the CEOs session at the country's first Toy Fair 2021, Piyush Goyal said "I'm actively pursuing Airbus to try and get them to come to India to start manufacturing aeroplanes in India."
Close
The ruling BJP is on a high after winning all six civic corporation polls, while the Congress believe that the recent hike in fuel prices might derail the party's momentum ahead of the polls. (Representative Image)(HT)
The ruling BJP is on a high after winning all six civic corporation polls, while the Congress believe that the recent hike in fuel prices might derail the party's momentum ahead of the polls. (Representative Image)(HT)

Gujarat set for local body polls; AAP, AIMIM emerge as dark horses

By hindustantimes.com | Written by Nilavro Ghosh, Hindustan Times, New Delhi
PUBLISHED ON FEB 27, 2021 10:06 PM IST
The parties will contest for 81 municipalities, 31 district panchayats and 231 taluka panchayats, the counting for which is scheduled for March 2 as per the Election Commission.
Close
Minister of Information and Broadcasting Prakash Javadekar(AFP)
Minister of Information and Broadcasting Prakash Javadekar(AFP)

Social media content blocking provision not new, clarifies Centre

By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON FEB 27, 2021 09:56 PM IST
The provision for the same has been there since 2009, the I&B ministry clarified.
Close
Ghulam Nabi Azad retired from the Upper House on February 15.(PTI)
Ghulam Nabi Azad retired from the Upper House on February 15.(PTI)

Ghulam Nabi Azad says 'will continue my fight for J&K statehood'

PTI, Jammu
UPDATED ON FEB 27, 2021 09:06 PM IST
"Till my last breath, I will continue my services for the nation and will continue my fight for the rights of people," Azad said.
Close
The government CVCs will inoculate for free with the central government bearing the full cost of vaccination..(PTI)
The government CVCs will inoculate for free with the central government bearing the full cost of vaccination..(PTI)

Which private hospitals are Covid-19 vaccine centres? Govt releases list

By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
UPDATED ON FEB 27, 2021 09:05 PM IST
Around 10,000 private hospitals empanelled under Ayushman Bharat PMJAY, more than 600 hospitals empanelled under CGHS.
Close
Prime Minister Narendra Modi(PTI)
Prime Minister Narendra Modi(PTI)

News updates from HT: PM Modi to address 'Mann Ki Baat' tomorrow

PUBLISHED ON FEB 27, 2021 08:48 PM IST
Here are today’s top news, analysis and opinion. Know all about the latest news and other news updates from Hindustan Times.
Close
Air Chief Marshal RKS Bhadauria flew a Mirage 2000, the aircraft that was used for bombing Jaish-e-Mohammed (JeM) targets in Pakistan’s Balakot on February 26, 2019. (ANI PHOTO).
Air Chief Marshal RKS Bhadauria flew a Mirage 2000, the aircraft that was used for bombing Jaish-e-Mohammed (JeM) targets in Pakistan’s Balakot on February 26, 2019. (ANI PHOTO).

Squadron that carried out Balakot operation makes long-range practice strike

Edited by Prashasti Singh, Hindustan Times, New Delhi
UPDATED ON FEB 27, 2021 08:36 PM IST
In another event to commemorate the event, Indian Air Force (IAF) chief RKS Bhadauria on Saturday flew in a Mirage 2000, part of a multi-aircraft sortie, with the same squadron pilots.
Close
IAF has released a video of a precision strike carried out by Mirage 2000s against a dummy target in Rajasthan. The strike was carried out by members of the squadron that carried out the Balakot air strike.(IAF video/screen grab)
IAF has released a video of a precision strike carried out by Mirage 2000s against a dummy target in Rajasthan. The strike was carried out by members of the squadron that carried out the Balakot air strike.(IAF video/screen grab)

On Balakot anniv, IAF video shows jets bombing target with Spice 2000 bombs

By Rahul Singh | Edited by Sohini Sarkar, Hindustan Times, New Delhi
UPDATED ON FEB 27, 2021 10:19 PM IST
  • The IAF’s Mirage 2000s hit three targets in Balakot with five Israeli-origin Spice 2000 bombs with penetrator warheads that allowed them to pierce through the rooftops before exploding inside to cause maximum damage.
Close
Prime Minister Narendra Modi addresses during The India Toy Fair 2021 through video conferencing in New Delhi on Saturday. (ANI Photo)
Prime Minister Narendra Modi addresses during The India Toy Fair 2021 through video conferencing in New Delhi on Saturday. (ANI Photo)

PM Modi to address the nation on Mann Ki Baat tomorrow at 11am

By hindustantimes.com | Edited by Arpan Rai, New Delhi
PUBLISHED ON FEB 27, 2021 08:11 PM IST
Earlier this month, the Prime Minister had invited people of the country to share their inspiring stories in the field of art, culture and tourism.
Close
Jammu: Congress leaders Ghulam Nabi Azad, Anand Sharma, Kapil Sibal, Bhupinder Singh Hooda and Raj Babbar during a 'Shanti Sammelan' event in Jammu on Saturday.(PTI)
Jammu: Congress leaders Ghulam Nabi Azad, Anand Sharma, Kapil Sibal, Bhupinder Singh Hooda and Raj Babbar during a 'Shanti Sammelan' event in Jammu on Saturday.(PTI)

Congress getting weak, says Kapil Sibal at G-23 meet in Jammu

PUBLISHED ON FEB 27, 2021 08:00 PM IST
  • Congress leader Kapil Sibal said the party needed the services of Ghulam Nabi Azad who recently retired from the Rajya Sabha, to strengthen it.
Close
Crowd at a vegetable market in Maharashtra's Solapur amid Covid-19 surge.(PTI)
Crowd at a vegetable market in Maharashtra's Solapur amid Covid-19 surge.(PTI)

Maharashtra sees spike of 8,623 fresh Covid-19 cases, Mumbai cases drop to 987

By hindustantimes.com | Edited by Poulomi Ghosh
UPDATED ON FEB 27, 2021 08:23 PM IST
Mumbai reported a dip for the first time in the past few days as with 987 cases, its daily toll fall below 1,000.
Close
Himachal Pradesh Congress MLAs holding up copies of the governor Bandaru Dattatreya’s address and obstructing his exit from the assembly by standing in front of his car on Friday. (Deepak Sansta/HT Photo)
Himachal Pradesh Congress MLAs holding up copies of the governor Bandaru Dattatreya’s address and obstructing his exit from the assembly by standing in front of his car on Friday. (Deepak Sansta/HT Photo)

HP speaker lodges complaint against Cong MLAs for 'manhandling' Guv

PTI
PUBLISHED ON FEB 27, 2021 07:35 PM IST
Earlier on Saturday, Assembly Secretary Yash Paul Sharma had told PTI that the Speaker has submitted a formal complaint to DGP Sanjay Kundu for registering an FIR against the Congress legislators.
Close
Union Education Minister Ramesh Pokhriyal ‘Nishank’(PTI)
Union Education Minister Ramesh Pokhriyal ‘Nishank’(PTI)

Education Minister says other countries want to implement India's NEP

PTI
PUBLISHED ON FEB 27, 2021 07:32 PM IST
The minister, who was addressing the 97th annual convocation of Delhi University, said the new education policy that has been brought into place after "much deliberation" will see India "reform, perform and transform".
Close
A medical worker takes a swab sample from a passenger for a Rapid Antigen Test (RAT) Covid-19 coronavirus test at the railway station in New Delhi.(AFP)
A medical worker takes a swab sample from a passenger for a Rapid Antigen Test (RAT) Covid-19 coronavirus test at the railway station in New Delhi.(AFP)

Centre backs testing, identifying mutant strain in 8 Covid-19 hotspot states

By hindustantimes.com | Edited by Arpan Rai, New Delhi
PUBLISHED ON FEB 27, 2021 07:28 PM IST
Maharashtra, Punjab, Gujarat, Madhya Pradesh, Chhattisgarh, West Bengal, Telangana and Jammu and Kashmir have been advised not to lower their guard, enforce Covid-19 appropriate behaviour and deal firmly with violations.
Close
LJP president Chirag Paswan said it is the duty of everyone belonging to the deprived section of society to pitch in this regard.(HT File)
LJP president Chirag Paswan said it is the duty of everyone belonging to the deprived section of society to pitch in this regard.(HT File)

Chirag Paswan donates 1.11 lakh for Ram temple construction

PTI, Patna
PUBLISHED ON FEB 27, 2021 07:19 PM IST
Paswan, who is no longer part of the ruling NDA in Bihar but remains a vocal supporter of the BJP, described himself as a descendent of Shabri.
Close
SHARE
Story Saved
OPEN APP