Administrative changes are not structural reforms: Chidambaram

New Delhi, Sept 28: Senior Congress leader today slammed Union Minister Jayant Sinha's defence of NDA's economic policies, stating it is undertaking structural reforms that are "necessary to create a 'New India' and provide good jobs for our billion-strong workforce". Reacting to Mr Jayant Sinha's comments, Mr Chidambaram, in a series of tweets, said, 'Jayant Sinha's article in ToI reads like a PIB press release. He should know that administrative changes are not structural reforms.' A day after senior BJP leader and former Finance Minister Yashwant Sinha criticised Finance Minister Arun Jaitley's handling of the economy, his son and Union Minister Jayant Sinha has defended the government's economic policies, stating it is undertaking structural reforms that are "necessary to create a 'New India' and provide good jobs for our billion-strong workforce." "The new economy that is being created will be much more transparent, globally cost-competitive, and innovation driven. Importantly, the new economy will also be much more equitable thereby enabling all Indians to lead better lives," Jayant Sinha wrote in an editorial in today's English daily Times of India. Reacting to Jayant Sinha's comments, Mr Chidambaram said,'If Jayant Sinha is right, why is the outcome a steady decline in GDP growth over 5 quarters? If Jayant Sinha is right, why is there no increase in private investment? If Jayant Sinha is right, why is credit growth to industry negative? If Jayant Sinha is right, why is there poor demand for electricity and plant load factor at 50-60 per cent?' Mr Jayant Sinha's defence of the government's economic policies came a day after Mr Yashwant Sinha's criticised Mr Jaitley's handling of the Economy, UNI