Monsoon impact may not be too harsh: Union minister Jayant Sinha

Do you think Yoga will boost the economy?
There is definitely a connection between our hard power and soft power. Since when there is an appreciation of our knowledge and values across the globe, the products and services will also benefit from the thought process. It must be noted that earlier India was termed as the land of snake charmers, but with the IT industry doing well worldwide, India is now considered as the land of Mouse Charmers. IT services has changed the face of India in the foreign land, India has become a country of technology which is also due to the combination of hard power and soft power. Indian culture has reached places like Vietnam, Southeast Asia, Laos, and along with them went the Indian business, setting yet another example of hard and soft power.

Do you think economy will change in the next 6-7months or will it take longer?
At ground level things are changing; in the railways, road transportation, transmission the process is speeding up. Hence, we can say that the economy is picking up.

Are GST & the real estate Bill likely to be passed this monsoon session?
GST Bill will most certainly be passed in the monsoon session. As far as the real estate Bill is concerned, since there are some contentious clauses it might delay the time in getting a wholesome consensus. However, the GST is required to improve our financial situation, and thereby we strongly believe that the 'constitutional amendment' will be passed first and then the GST Bill.

Has the govt come on a back foot on the land Bill issue?
It is imperative to have a nation-wide consensus on the land Bill issue. Our slogan is 'Sabka saath, sabka vikas'. Therefore, we want to make sure that we have an overall consensus for the same while we prepare the land Bill so that everybody gets to benefit from the Bill and for that if its takes time it shouldn't be much of a concern.

The expected 'rate cut' did not happen from the RBI. What do you have to say to that?
RBI is a professional institution. Whatever the facts, state actions should be taken in accordance with them. The data should be well analysed also. Therefore, the actions taken should be fact-based.

Do you think weak monsoon will impact the economy?
I don't think that the impact will be too harsh. Last year also the monsoon situation was poor, which however, did not impact the economy much. We will take the necessary measures in situation of crisis due to monsoon. Steps like releasing of the buffer stocks, import of pulses etc will be taken.

The report on the MAT committee is due on 31 July., However FIIs have already approached the Supreme Court...
Judgement passed by the apex court will be final, and we are cooperating on the same and want the entire issue to be resolved by the apex itself.

Do you think that MAT has been mishandled by the govt?
When a matter becomes sub-judice like the issue of the MAT, the executive department cannot intervene in it. We are just following the judicial process.

Do you think there will be positive results of the 'Black money Bill?
Our expectation is that the black money is no more able to distort our economy like it was doing earlier. We are getting reports that usage of black money has reduced considerably.