BJP slams Chidambaram over sluggish economy

  • HT Correspondent, Hindustan Times, New Delhi
  • Updated: Mar 30, 2014 19:05 IST

Toeing the party line, senior BJP leader Yashwant Sinha on Sunday lashed out at the Congress-led United Progressive Alliance (UPA) government at the Centre, blaming it for a 'crisis of confidence' in Indian economy.

A day after the Bharatiya Janata Party (BJP) came down heavily on the central government for leaving the economy in a shambles under an economist prime minister, Sinha said first-time voters were seething with anger as they stare at a bleak future.

The sitting parliamentarian from Hazaribagh (Jharkhand) took a dig at Union finance minister P Chidambaram, accusing him of ruining the economy and trying to control the fiscal deficit artificially.

"Chidambaram could not offer solutions to structural problems of budget and did not take steps to check inflation," Sinha, who was the finance minister in the Atal Bihari Vajpayee-led National Democratic Alliance (NDA) government, said.

Indian economy, which grew by over 9% before the 2008 global financial crisis, has slipped to decade's low of 4.5% in 2012-13. In the current fiscal, it is estimated to expand by 4.9%.

"Chidambaram will be remembered as a spoiler, arrogant and his for habit of making baseless claims," Sinha added.

The BJP had on Saturday blamed the UPA government for "mismanagement" of the economy under Prime Minister Manmohan Singh, who ushered in liberalisation during his stint as the finance minister in early-1990s.

Four days after the Congress released its manifesto for the general elections and promised to lift 800 million people to the middle-class, Sinha said, "Rising inflation has pushed several people below the poverty line..."

The RBI has been maintaining a hawkish monetary policy stance in its bid to contain inflation. The central bank is scheduled to announce its next policy on April 1.

According to Sinha, the government did not carry out any BPL survey in the last decide because it could not decide on the definition of poverty.

The BJP leader also said there would be a huge burden on the next government. He added the BJP, if elected to power, would "undo the wrongs done by this government". "This will solve 60 % of the problems."

According to Sinha, an NDA government in office and Narendra Modi as the prime minister will create a 'sentiment' for the economy.

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