FM Arun Jaitley takes a jibe at Congress, calls 1971 a 'disastrous year'

At a book launch function in New Delhi on Friday, Union Finance Minister Arun Jaitley called 1971 a 'disastrous year for India'.

Taking a jibe at Indira Gandhi and the Congress, he said to ANI, "1971 was a disastrous policy making event for India. Instead of concentrating on higher productivity we were busy concentrating only on re-distribution. This in turn led to a situation in India where the government got busy into the political business of distributing poverty instead of generating wealth."

Jaitley further said that today it was essential for the government to distribute justice so that societies were able to create wealth.

Arun Jaitley expressed his concern over India's situation that the country is neither an exporter of oil nor commodities. He said the reduction in oil prices would help India.

"That helps us in order to save a lot of money and use that money for social security", he added. He further said that the money can also be used to enhance infrastructure.