Arun Jaitley pulled no punches on Thursday while retorting BJP colleague Yashwant Sinha's criticism of his performance as Narendra Modi's finance minister.

Sinha, he said, was a job applicant at 80 who didn't remember his own track record as FM.

It all began on Wednesday, when Sinha wrote a scathing critique of the Modi government's economic policy for a leading national daily. In it, he said that while Modi "claims that he has seen poverty from close quarters," Jaitley was working overtime to make sure that all Indians also see it from equally close quarters."

Senior Congress leader and former finance minister P Chidambaram said Sinha had spoken truth to power. A day later, Sinha's son Jayant - Modi's junior minister for civil aviation - countered his father's attack in an opinion piece of his own.

ARUN JAITLEY'S RESPONSE

Jaitley's riposte came later in the day, at a book ('India @70 Modi @3.5.') launch.

He didn't mention Yashwant Sinha by name, but said he didn't yet have the luxury of being an ex-finance minister or a former finance minister-turned-columnist.

He accused Sinha of acting "in tandem" with P Chidambaram, ignoring his long-running past battle with the Congressman on economic issues.

"Chidambaram, the former finance minister, can conveniently forget a policy paralysis (during UPA-II). I can conveniently forget the 15 per cent NPAs of 1998 and 2002 (during Sinha's term as finance minister). I can conveniently forget the USD 4 billion reserve left in 1991 (during Sinha's first term as finance minister) and I can switch over and change the narrative," Jaitley told his audience at the Nehru Memorial auditorium.

He recalled barbs Sinha and Chidambaram allegedly traded years ago - for instance, Chidambaram's description of Sinha's second stint as FM as the "worst years for the economy since liberalisation," or the BJP leader's declaration that Chidambaram would need "to be born again to match my record as finance minister."

'VAJPAYEE HAD TO FORCE SINHA OUT'

Before the book launch began, there were strong indications that Jaitley would use the occasion to break his silence on Sinha's comments.

The FM said he had some very distinguished predecessors, including a former president (Pranab Mukherjee) and a former prime minister (Manmohan Singh).

But as for Yashwant Sinha, Jaitley said he "would be happy to remain a distant memory for the people of India."

"However, since he seems determined to stay relevant in his party, I am obliged to recall his record during his four years as finance minister," Jaitley said. "I may point out the 2000-2001 and 2002-2003 were the worst years since liberalisation in terms of growth and Prime Minister Vajpayee had then to force him out and replace him."

Arun Jaitley's most caustic remark was the last line of his speech.

"Probably, a more appropriate title for the book would have been 'India @70, Modi @3.5 and a job applicant @ 80," Jaitley said.

Yashwant Sinha, who held a press conference and gave nearly 50 TV interviews yesterday, hasn't yet responded to Jaitley's counter-attack.

But in those interviews, he did try to punch holes in his son's defence of the Modi government's economic policies.

On Jayant Sinha's article, he said, "If Jayant was competent to speak on the economy, why was he shifted from the finance ministry to the civil aviation ministry?"

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