"GST, demonetisation and digital payments are game-changing efforts to formalise India’s economy. Transactions that were taking place outside of the tax net and in the informal sector are now being brought into the formal sector," he wrote.
Subtly attacking his father's remark, he said:"Unfortunately, these articles draw sweeping conclusions from a narrow set of facts, and quite simply miss the fundamental structural reforms that are transforming the economy."
Yashwant Sinha, former Finance Minister, on Wednesday has written a
piece in the Indian Express which was more of a scathing criticism of the government's ill-planned economic policies. He said he would be failing his 'national duty' if he did not speak out now.
Sinha ran a status-check on the economy, noting a shrinking of private investment, the 'collapse' of industrial production, said that
"demonetisation has proved to be an unmitigated economic disaster." He also wrote about how a badly implemented GST played 'havoc' with businesses and that demonetisation only added fuel to a fire that had already started.
"The Prime Minister is worried," writes Sinha, mentioning the new Economic Advisory Council which was appointed recently and also that a meeting with the Finance Minister has been postponed.