Jayant Sinha backtracks on prediction of 'unstable govt' after Lok Sabha polls; claims Narendra Modi 'has already won'

Union minister Jayant Sinha on Thursday denied media reports that he had predicted an unstable government as the "most likely" outcome of the upcoming Lok Sabha elections. Sinha tweeted that the media "misquoted" him.

"My most likely scenario is that the 2019 elections have already been won under the inspiring leadership of the honourable Prime Minister Narendra Modiji," he said in a tweet.

Earlier on Thursday, PTI quoted Sinha as saying, "If indeed we end up in a situation where we don't have a strong, stable government, (which) I think that is in fact the most likely case, I think that will be something that will not be good for India going forward," speaking at the CNBC-TV18's India Business Leadership Awards in Mumbai.  The country has transformed and the priority now is to inform the people about this change, the minister also said.

"For us, the goal is to inform, to ensure that people understand all that we have done and all that is at risk consequently," Sinha had reportedly said. Sinha's remarks come in the backdrop of the setback the ruling BJP suffered in Assembly elections in three states recently.

Industrialist Sajjan Jindal also spoke at the event, and termed the general elections as one of the biggest risks (to the economy) the country is staring at. On his expectations from the next government, he said the influence of state-run companies should diminish.

Agreeing with him, banker Uday Kotak said we need to reimagine the financial sector, and the next government should be "seriously considering" how to handle state ownership in this crucial sector. He was quick to clarify that he is not pitching for the private sector to take over the state ownership, but for the ownership to be broadened in such a way that the general public's ownership in the companies grows.

Kotak also pitched for a 0.50 percent cut in the repo rate by the Reserve Bank along with a cut in the cash reserve ratio.

With inputs from agencies

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Updated Date: Jan 18, 2019 08:26:09 IST

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