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Jaitley: Stock Market crisis an opportunity for India’s growth

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New Delhi: Finance Minister Arun Jaitley on Tuesday said market turbulence caused by the China situation was not a cause of worry for India, while the crisis should be converted into an opportunity to grow by speeding up the reforms. “Can we convert this (markets turmoil) into an opportunity? Now can we? Wherever we are lacking in further reforms, can we just speed them up? (Can we) expedite our own expenditure?” he asked while addressing an event here of the Society of Indian Law Firms.

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The Bombay Stock Exchange experienced its steepest ever fall on Monday, of 1624.51 points or 5.94 percent. The rupee also hit a fresh two-year low on Monday of 66.47 to a dollar. Jaitley said China was responsible for almost half the global growth in the last few years and it was switching from manufacturing to services.

“Their low-cost manufacturing products were not selling to that extent. They had built surplus capacity and not been able to serve. They are trying to switch from export-oriented economy to consumer-centric economy,” he said. Noting that Chinese growth figures were not even close to the pessimistic projections, Jaitley said: “Suddenly, one day, you have a collapse from Japan, the West coast. All markets collapse.”The finance minister on Monday also stressed the need to maintain course on economic reforms in the face of such “transient crisis”.

(IANS)

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Court Asked Arvind Kejriwal if He Lied about Calling Arun Jaitley, a Crook

The court asked Kejriwal to abstain from "scandalous" and "indecent language"

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The surge of 20 per cent price in water tariff will ,levied after the free quota of 20,000 litres
The surge of 20 per cent price in water tariff will ,levied after the free quota of 20,000 litres
  • Arvind Kejriwal was asked to clarify if he lied about calling Finance Minister, Arun Jaitley a crook
  • The Chief Minister is now supposed to offer his defense to the Delhi High Court
  • Jethmalani says that the Chief Minister owes him two crores for his appearances

New Delhi, Aug 23, 2017:  Aam Admi Party Chief Arvind Kejriwal was asked to clarify if he lied in court by pretending that he did not ask for abusive language to be used against Finance Minister Arun Jaitley, mentioned NDTV report.

Previously, Kejriwal stated in the court that he had not instructed his former counsel Ram Jethmalani to use  “crook” to describe the union minister in court. But Jethmalani claims that the Chief Minister used harshly insulting words to attack Jaitley.

Jethmalani declared that according to Jaitley, Kejriwal had misled the court by denying the allegations. In fact, he says Jethmalani has written to him to insist that was the case.
The Chief Minister is now supposed to offer his defense to the Delhi High Court.

In 2015, Jaitley sued Kejriwal and five top leaders of his Aam Aadmi Party for defamation after they accused him of corruption during his 13-year tenure as the top boss of the DDCA, the powerful cricket association that handles Delhi and its surrounding areas.  In two separate cases – criminal and civil – Jaitley has sought damages of 10 crores.

Also Read: Ram Jethmalani Exposes Arvind Kejriwal. Says, Kejriwal was Fixated on calling Jaitley Crooked 

During court the proceedings last month, Jaitley complained to Jethmalani’s language and said ‘Kejriwal’s team is delaying hearings in the Delhi High Court.’

The court asked Kejriwal to abstain from “scandalous” and “indecent language.”

After the Chief Minister said that he had not approved the abusive words, the lawyer riposted in a blog: “Ask your conscience how many times you used worse abuses than a mere ‘crook.’ You have hundred times asked me to teach this crook a lesson.”

Jethmalani says that the Chief Minister owes him two crores for his appearances. It seems that, in his new enmity with Kejriwal, he has become an indirect ally of Jaitley.


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