GST, demonetisation caused some trouble, but did not shake people's faith in PM: Harsh Vardhan
New Delhi, May 2: Admitting that demonetisation and the implementation of GST by the government had caused "some disturbances", Union minister and BJP candidate from traders' hub Chandni Chowk Harsh Vardhan has asserted that the moves have not shaken the people's faith in Prime Minister Narendra Modi's vision.
In an interview to PTI, Vardhan said these "bold steps" of the government were appreciated by people and the criticism was "politically motivated".
"When demonetisation was done, certainly it was a very hard, historic reform and a bold decision on the part of the government and of course, our PM Narendra Modiji. You saw the whole country stood in queues outside banks but not even a single person was unhappy because people had faith in the vision of the PM and his intentions.
"Although, for a small period of time, people had some small disturbances in handling cash and going to the banks for changing it. Now everyone has realised that the PM had very pious intentions. Nobody has criticised it," the Union minister of science and technology said.
Asked about the discomfort caused to businessmen and traders due to the implementation of the Goods and Services Tax (GST), he described the new tax regime as the "biggest reform", which was amended from time to time on the basis of inputs given by traders.
"GST was a major and the biggest reform. The prime minister does everything that benefits people even though, for some time, people may not like it. But after having introduced the GST reforms, he was so receptive and pragmatic in his approach that he took inputs from traders from all sections of the society, their wise suggestions were incorporated and the GST Act was amended 100-200 times," Vardhan said.
Stating that the criticism of demonetisation and GST was politically motivated, he took a dig at the opposition parties, saying they had run out of issues.
"People in India, Delhi and in my own constituency realise that the PM has very very pure intentions and he is trying to bring about a major change in the country. He is trying to bring about reforms in the thinking of people, whereby truthfulness and honesty in business start prevailing. People have started changing to the newer reform strategy. This (GST) is no longer an issue.
"These issues are being raised because the opposition is devoid of issues. Even if there is some criticism in some quarters, it is all politically motivated," the 64-year-old MP from Chandni Chowk said, adding that he had faith in the traders.
"I have full faith in the commitment of the traders. People have so much enthusiasm and commitment for the prime minister, because everybody in this country whether a trader, a poor man, a student or a scientist, doctor, farmer or labourer realises that the PM has an extraordinary ability and vision," Vardhan said.
Vardhan had been a four-time MLA from east Delhi's Krishna Nagar Assembly constituency. He had joined the ruling Bharatiya Janata Party (BJP) in 1993.
In the ongoing Lok Sabha polls, Vardhan is pitted against the Congress's Jai Prakash Agarwal and the Aam Aadmi Party's (AAP) Pankaj Gupta in the Chandni Chowk constituency.
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Rupee rises 23 paise to 94.95 against US dollar in early trade
Mumbai (PTI): The rupee appreciated by 23 paise to 94.95 against the US dollar in early trade on Wednesday as Brent crude prices retreated from their elevated level after US President Donald Trump hinted at a possible deal with Iran.
Forex traders said oil prices fell to USD 108 per barrel, as signs of easing geopolitical tensions in the Middle East offset the lingering supply concerns.
At the interbank foreign exchange market, the rupee opened at 95, then gained some ground and touched an early high of 94.95, registering a gain of 23 paise from its previous low.
The rupee was later trading at 95.10 against the greenback.
On Tuesday, the rupee settled at 95.18 against the US dollar, after witnessing an all-time intraday low of 95.44 on Tuesday on possible RBI intervention after investors retreated from riskier assets amid renewed clashes in the Gulf and targeting of UAE infrastructure, which reignited supply chain fears.
The rupee, which fell to its all-time low of 95.44 on Tuesday, gained this morning as Gift Nifty indicated a positive opening of 200 points, said Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP.
The dollar Index fell to 98.30, and Asian currencies rose against the dollar this morning in Asian trade, after Trump hinted at a possible deal with Iran, Bhansali added.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 98.28, down 0.16 per cent.
Brent crude, the global oil benchmark, was trading lower by 1.32 per cent at USD 108.42 per barrel in futures trade, after Trump paused Operation Freedom.
President Donald Trump has suspended “Project Freedom,” to escort ships through the Strait of Hormuz, claiming progress in negotiations with Iran toward an agreement to end the war.
In a post on Truth Social on Tuesday, Trump said, “Great progress has been made toward a complete and final agreement with representatives of Iran.”
Project Freedom was launched on Monday to escort ships, stranded due to the closure of the Strait of Hormuz, out to safety. Trump had announced the operation on Sunday, and the US Central Command began implementing it the next day.
However, the Project led to friction in the vicinity of the narrow seaway, a key route for transporting one-fifth of the global oil supplies, with the UAE claiming that its ships were attacked by Iran. The US also claimed to have destroyed several Iranian small boats.
On the domestic equity market front, Sensex jumped 657.22 points to 77,675.01 in early trade, while the Nifty rallied 218 points to 24,250.85.
Foreign Institutional Investors sold equities worth Rs 3,621.58 crore on Tuesday, according to exchange data.
