Finance Minister Arun Jaitley on Monday hit back at Congress Vice President Rahul Gandhi for his "Fair and Lovely" jibe, saying it reflects a "racist mindset". He also criticised opposition parties for stalling Parliament proceedings, saying that India can grow faster in the "absence of obstructionism". Jaitley then sought the support of the Congress-led Opposition for passing legislations such as the Goods and Service Tax Bill and the Bankruptcy Bill.

During his speech in the Lok Sabha earlier this month, Gandhi had said, “The [Narendra] Modi government launched a "Fair and Lovely" yojana, to convert black money into white. Modi ji had promised that he will put people with black money behind bars, now they have come up with a way to save those people." Without naming Gandhi, Jaitley said, "I have no problem with this phrase, but it is politically incorrect. It shows a racist mindset that what is not fair is not lovely. World over, people frown on use of such a phrase [sic]. In any case, I will pass it off as ignorance."

Replying to a debate in the Lok Sabha on the Union Budget, Jaitley also rejected demands for the rollback of 1% excise duty on jewellery, saying it was in preparation for unveiling the GST, which "will hopefully come soon". Noting that the global environment was a challenging one, the finance minister said the country needs to rise above party lines to maintain the distinction of being the fastest-growing large economy, reported PTI.