Yashwant oil attack

Former BJP finance minister Yashwant Sinha on Tuesday said the Narendra Modi government failed to tackle the first minor challenge it faced due to rise in international crude oil price after enormously benefiting from the low rates for four years.

By Our Special Correspondent
  • Published 12.09.18
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Yashwant Sinha. File picture

New Delhi: Former BJP finance minister Yashwant Sinha on Tuesday said the Narendra Modi government failed to tackle the first minor challenge it faced due to rise in international crude oil price after enormously benefiting from the low rates for four years.

Debunking the claim that the prices of petroleum products were high due to global factors, Sinha said: "They were enjoying the fruits of unusually low crude oil prices for four years. It helped them in managing fiscal deficit, current account deficit, debt servicing... and when the price rose slightly, posing the first crisis, they failed."

Sinha also slammed demonetization, arguing that more money will come into banks than it was earlier even as all the stated objectives failed.