NEW DELHI: Attacking Congress, Finance Minister Arun Jaitley today said the previous UPA Government had indulged in discretionary allocation of national resources causing damage to the economy and the Modi dispensation did away with the practice as it learnt from their “mistakes”.
Replying to a debate on Budget in the Lok Sabha, he also said the Manmohan Singh Government had focussed on redistribution of resources without enhancing growth and productivity.
Jaitley, while noting that recession had hit the global economy in 2008, said, “our problem was that the UPA Government, I am not saying from point of criticism but introspection if you look back, suffered on domestic policy on two fronts…”
“You (the UPA) did not realise time had come to end discretion and switch over to non-arbitrary mechanism for resources allocation. It was a fundamental mistake and we learnt from your mistake and corrected this,” he said.
Jaitley said the UPA Government’s measures had scared away investors and adversely impacted several macro-economic parametres.
In this regard, the Minister referred to 2G spectrum and coal block allocations which were shrouded in allegations of corruption during the UPA Government. (AGENCIES)
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