Look Who's Talking: Arun Jaitley's Comeback On 'Fair And Lovely' Jibe

Finance Minister Arun Jaitley today hit back at the previous UPA government in Parliament on Rahul Gandhi's Fair and Lovely jibe.

Following are the highlights:

• (Arun Jaitley on income disclosure schemes and in defense of other schemes)  In most cases, criminal cases have been filed, strictly follow procedure of the courts
• Once their information is knows, investigations are proceeding, and now the penal provisions of a very strict law will be implemented against them
• (On income disclosure scheme) Past had several schemes and it is not necessary that all schemes will benefit the nation
• If you have any income which has escaped assessment, declare it today and pay the tax plus 50% penalty
• Foreign black money, to domestic black money please honestly consider your own track record
• Need cooperation of all political groups, in the middle of a global financial and economic crisis
• The new, normal now is volatility, and uncertainty
• When the going is globally challenging, you are then to sustain
• Rural demand is poor, agrarain crisis. Therefore more money needs to directed to rural areas
• The state of public sector banks is a problem.
• Steel mills are in a problem, including TATA steel
• Duties were increased, import action were taken