UPA has run out of ideas in tackling economy: Jaitley | india | Hindustan Times
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UPA has run out of ideas in tackling economy: Jaitley

india Updated: Jul 19, 2009 21:28 IST

Charging the UPA government with running out of ideas, Leader of Opposition in Rajya Sabha Arun Jaitley on Sunday said it "showed" in the union budget which would take the entire economy into a "debt trap scuttling overall growth".

"The (economic) situation is of great concern today ...Not seen in the past 15 years....The government is clueless how to tackle the global recession...The government has run out of ideas," Jaitley said in a seminar on union budget organised by BJP's business cell in Patna.

The budget talked of creating 1.20 lakh crore jobs but "failed" to devise such a policy or scheme which could either give fillip to investments or create jobs on large scale, the BJP heavyweight said.

Referring to the Rs 10.30 lakh crore budget, Jaitley claimed that the huge borrowing of Rs 4.25 lakh by the Centre to meet its expenses from the market would crowd the private sector investment which would squeeze the growth.

The BJP leader said that UPA government talked of inclusive growth which was not possible without helping a poor state like Bihar out of the mess.

"Bihar did not find any mention in the union budget whereas some state-specific announcements have been made in the budget due to political considerations," he said, without naming the states.