Unworkable alliance can't achieve growth: Arun Jaitley

 Finance Minister Arun Jaitley. PTI file photo

Targeting the Opposition, which is attempting an alliance to topple Narendra Modi-led BJP in the Lok Sabha elections, Finance Minister Arun Jaitley on Tuesday said that an "unworkable alliance with maverick leadership whose longevity is a suspect" can never achieve growth.

In a Facebook post, Jaitley said that India, today, is the fastest-growing major economy in the world but it is still not satisfied with a 7-7.5% growth rate.

He said that countrymen are "increasingly becoming impatient and want to break" the 8% barrier while the Ease of Doing Business rankings for five years have improved from 142nd position to 77th position. "We have now to get into the first 50, if not still lower," he said.

"Who should be India’s prime minister, if India were to achieve this? Should he/she be constrained by his/her rival aspirants who have reluctantly supported him/her out of mere dislike for a common opponent or does India need a Prime Minister with a clear mandate as in 2014. Only such a prime minister can deliver growth and satisfy the nation’s aspirations," he said.

Under Modi, he said the country grew from being the tenth largest economy in GDP terms in the world to seventh at present and its fiscal discipline during the past five years has been amongst the best as compared to any preceding period.

"Presently, the fifth, sixth and seventh economies namely United Kingdom, France and India are within a very narrow range. A marginal fluctuation of currency values alters the size of the economies. India, of course, is projected to grow next year at 7.5%. This will conclusively ensure that India, at the end of the next Financial Year, could possibly be the fifth largest economy in the world," he said.

With the kind of transfer of resources to rural India which have been made in the past five years, he said, a huge aspirational class is emerging even in the rural areas.

"This is an indication of what the social profile, purchasing power and the quality of life of Indians are going to have, in the decades to come. To ensure that this happens as projected, it is a pre-requisite that India needs a decisive leadership, consistency in policy direction and a strong and stable government. An unworkable alliance with maverick leadership whose longevity is a suspect can never achieve this," he said.

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Unworkable alliance can't achieve growth: Arun Jaitley

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