Corruption Removed From India's Political Dictionary: FM Arun Jaitley
‘For Sale' signs hung over all ministries. Spectrum was allocated at throw away prices to the favoured few. Investors lost their investment. Ministers, civil servants, investors were jailed and prosecuted.
"Coal blocks were allocated at virtually no price. Environmental clearances were up for sale. The Congress Party leaders had become rent seekers and name lenders. They were partners in a large number of companies which got coal blocks allocated," he said.
The Finance Minister said discretionary and arbitrary allotment "motivated by collateral considerations" led to prosecutions of many and a virtual paralysis of the coal mines sector.
"It had an adverse impact on user industries such as the power sector. Even the former Prime Minister Dr Manmohan Singh was not spared on account of the self-destruct policies of the UPA. The courts had to intervene and cancel the allocations," he said.
On government's performance after one year in office, Mr Jaitley said, "The whole parade of industrialists lining up outside South Block and North Block is now over. The corridors are empty, the silence cheery."
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