Jaitely's statement comes amidst the escalating tension between Indian and Pakistan.
Pakistan claims the project violates the 1960 Indus Water Treaty.
It is not clear yet what impact the blockade of the river will have on the flow of water from the Brahmaputra into the lower riparian countries like India and Bangladesh as a result.
He, however, said sometimes such people spread wrong news or information about China on purpose.
The 70-year-old real estate tycoon had last month described tensions between India and Pakistan as a "very, very hot tinderbox" and offered to be "the mediator or arbitrator" if it was necessary and if the two countries wanted him to, following which the Foreign Office had welcomed such an offer.
US Secretary of State John Kerry has had "two conversations" over the "last two days" with External Affairs Minister Sushma Swaraj on this issue, even as India explores a range of diplomatic options to isolate Islamabad.
Thursday's judgement implies that the 2004 Act was not in consonance with the apex court judgement of 2003 which had mandated the construction of the SYL canal that has been stalled.
Pakistan on Monday termed as "irrational" India's strong reaction to a court's ruling ordering release of 2008 Mumbai terror attack mastermind Zaki-ur-Rehman Lakhvi, but hoped that the issue will not affect the proposed bilateral talks.
The National Assembly Standing Committee on Foreign Affairs on Monday issued a four-page policy paper linked to Kashmir.
Pakistan Prime Minister Nawaz Sharif riefs Opposition on LoC after India's surgical strikes
Industry bodies said India's move to grant the status to Pakistan had not made much of a difference as it was not reciprocated
Amid growing strain in India-Pakistan ties, the government is planning to fast-track four projects in Indus river basin to increase irrigation area in Jammu and Kashmir by nearly 2.05 lakh acres, weeks after India decided to "exploit to the maximum" the water of Pakistan-controlled rivers, including Jhelum, as per Indus Water Treaty.
Pakistan on Wednesday said it was "encouraged" after BJP's Prime Ministerial candidate Narendra Modi's remarks regarding ties with foreign countries and asserted that it was looking forward to a stable government here to engage "quickly, comprehensively and meaningfully".
India has rejected any third party intervention in the Kashmir issue and has maintained that all outstanding matters in Indo-Pak ties should be resolved bilaterally.
Apart from India, Bangladesh and Bhutan have also pulled out of the SAARC Summit in Islamabad in November, saying the environment is not right for the successful holding of the meet.
India's failure to resolve the Kashmir issue and improve relationship with Pakistan has been an "impediment" to India's rise and become the greatest hurdle in it becoming a permanent member of the UN Security Council and the Nuclear Suppliers Group, Pakistan Prime Minister Nawaz Sharif's envoys have claimed.
'The Pakistanis were lulled adequately to provide one of the fundamental prerequisites for successful execution of such an option: Surprise.' 'The other requisite: Deception in terms of selection of areas for launch/time of offensive action,' explains Brigadier S K Chatterji (retd).
The meeting comes as India continues its attempts to isolate Pakistan in the South Asian region after the attack on its army camp in Uri.
Underlining that cross border attacks have greatly "diminished" Pakistan's international standing, an American think-tank expert has said that as a result of India's new policy of retaliation Pakistan is in a bind of "its own making".
If the (Pakistani) military continues to send arms and fighters across the border, the Indian PM will have a strong justification to take action, says The Wall Street Journal.
Swaraj also said that Pak cannot take Kashmir to the ICJ.
'India needs to learn in Kashmir how to spread development.' 'Pakistan needs to learn in Balochistan how to spread development.' 'China needs to learn in Xinjiang and Tibet.' 'And if they can show tangible benefits, there will be less terrorism.' 'No one wakes up in the morning saying 'I want to kill myself', right?'
'We need to be in a perpetual state of aggression, and able to swiftly change the goal posts to keep Pakistan in a state of imbalance,' argues Sanjeev Nayyar.
'If there is a background of some kind of mutual understanding on how the dialogue process might develop in a mutually satisfactory manner...' 'If this understanding impacts positively on the ground situation...' 'As of now this is a heroic assumption. But it does not have to remain such.'
'The Modi government's pusillanimity vis-a-vis Pakistan makes almost certain that India will, in the coming weeks and months, be confronted with cross border terrorist actions of increasing intensity,' warns Satish Chandra, former deputy national security adviser.
'Keeping the global temperature below not just 1.5 degree Celsius, even 2 degree Celsius is beyond our reach now. Both are impossible.'
But it is less adventurous. It seems, at last, that in its eighth decade, Pakistan has settled into being a parliamentary democracy just like Bangladesh has and like we have always been, observes Aakar Patel.
'No prime minister of India is averse to normalise relations with Pakistan, if it is possible to do so without altering our fundamental position on Jammu and Kashmir,' notes Ambassador T P Sreenivasan.
Basit was called in by Foreign Secretary S Jaishankar to convey India's strong views on the incident, the external affairs ministry said.
'I feel that any terror strike at this juncture is not on the cards.' 'The reaction would most likely be military in nature and possibly using their special forces or attack helicopters,' says Group Captain Murli Menon (retd), who spent four years at our embassy in Islamabad.
A realistic assessment will tell us that not much has changed between India and Pakistan; the relationship remains as fraught as before with little prospect of reconciliation, notes Ajai Shukla.
'Under National Security Advisor Ajit Kumar Doval and now Chief of Defence Staff General Bipin Rawat, India began to actively work on Pakistani internal faultlines with a possibility of the break-up of Pakistan as the only solution,' observes Colonel Anil A Athale (retd).
Punjab politics has produced a dog's breakfast on the river waters issue. Except, you'd see even dogs eat better, says Shekhar Gupta.
'Here in Delhi, the Modi government is supposedly looking at 'options' to hit back at Pakistan in any whichever way it can, while in Washington, the Obama administration is looking for ways to strengthen US military cooperation with Pakistan,' says Ambassador M K Bhadrakumar.
Pulwama must become the defining moment in our fight against terror, effecting a sea change in our mindset. The erratic, blow hot blow cold approach, the hallmark of our anti-terror-Pak-Kashmir policy must end. In its place is required a pragmatic, comprehensive, robust hard line course that is relentlessly pursued even in times of relative calm until the final objective is met, namely the eradication of separatism and the total annihilation of terror, says Vivek Gumaste.
'A conventional war is not in fashion today and not seen as being able to deliver the objective.' 'Perhaps surgical strikes that are deeper, this time not on Pakistan's terrorist facilities, but on Pakistan army facilities.' 'The nation has to be prepared for losses.' 'War is not something that can be pussyfooted around.' 'If we go for limited number of posts in Kashmir, these are very difficult posts to capture and very difficult operations.' 'Be prepared for 200 to 300 killed.'
'We have never had a policy regarding Pakistani artistes working in India.' 'We welcome them with open arms and that remains the official policy of the Indian government, including the current dispensation.'
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