6 Decisions Which Proved Arun Jaitley as a Compelling Strategist for Indian Economy Here is a look at the Former Finance Minister's major contribution to the country's economy
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Former Finance Minister Late Mr. Arun Jaitley left us at the age of 67 on 24 August, 2019 in AIIMS, New Delhi. He was known for his logical arguements and factual encounters during Parliamentary sessions. A veteran leader of Bhartiya Janata Party, Arun Jaitley as an individual was an amalgamation of unending qualities related to the political world. Beginning from a successful lawyer, a raconteur, a blogger and an administrator, Jaitley left his footprints behind for the young crops of BJP to learn and grow high like him in Politics. He fell critically ill in the recent past due to unhealthy circumstances and had remained admitted in AIIMS for long. As a Finance Minister of Modi led NDA Government, Mr Jaitley will be remembered for his wit and intelligent pronouncement in Indian Parliament.
Historical Contributions of Arun Jaitley as A Finance Minister
- During his tenure as Finance Minister in NDA Government, He announced demonetization of 500/1000 rupees notes and implemented GST (Goods and services tax) for the betterment of economy.
- He powered 32.43 Billion Dollars in Banks recapitalisation plan which simplified the quity mixture and helped in stablizing the banks' debt status.
- He expanded Adhaar to various other services related to the Indian identity which lowered down the complicated system's processes.
- He merged Rail Budget in the common budget to give a simpler platform in managing Railways economy.
- He drove in the idea of presenting the yearly budget prior two months to the financial year month. According to him, it would be beneficial to the society including business sectors and farmers by giving government the time margin of 2 months.
- Jaitley encouraged FDI in India by by forming AFIPB (Foreign Investment Promotion Board) which gave a boost to the FDI percentage in India. In result to which, FDI, which was measured as 24.3 Billion Dollars in 2014 jumped to 44.4 Billion Dollars in 2019
Union Minister's tribute to Mr Jaitley
Prime Minister Narendra Modi –
"I am having a deep sense of pain in my heart on the demise of my dearest member and a friend. I am far in Bahrain and my friend left. Some days ago, we lost our sister Sushma ji and today, my friend Arun left us. I dedicate my heartily tribute to one of the most close politicians to me, who shared his personal and professional life with me. I pray for the peace of his soul and may god provide his soul with deep satisfaction"
Vice President M Venkaiah Naidu-
"I was deeply shocked to know about the Jaitley's demise. His death is an irreparable loss to the nation and a personal loss to me. I have no words to express my grief"
Home Minister Mr Amit Shah-
"As a Member of Parliament, he always stood against corruption and acted as a crusader. I pray to God to give peace to the departed soul and give strength to his family and BJP party to bear the loss"