Venkaiah Naidu lashes out at FDI in retail, govt | mumbai | Hindustan Times
Today in New Delhi, India
May 30, 2017-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Venkaiah Naidu lashes out at FDI in retail, govt

BJP leader Venkaiah Naidu on Tuesday lashed out at the UPA government for increasing foreign direct investment in retail, saying FDI had reduced the economy to a situation worse than the 1991 crisis.

mumbai Updated: Oct 03, 2012 01:11 IST
HT Correspondent

BJP leader Venkaiah Naidu on Tuesday lashed out at the UPA government for increasing foreign direct investment in retail, saying FDI had reduced the economy to a situation worse than the 1991 crisis.

The government was in the ICU, he said, and could lose power anytime now.

“Prime Minister Manmohan Singh said that our economic situation is like [that in] 1991, but who is responsible for this? It is the UPA that has been in power for the past 8 years and it is their economic mismanagement that has led to this state of affairs. People are saying perform, and government is only behind reform,” Naidu said addressing the media at Mumbai. He said it was because of the UPA that the once-soaring economy was in such a bad state. “We are not against reforms. But we want one that will straighten the economy and increase government transparency,” he said.

Naidu lambasted the government saying they did not know how to follow the coalition dharma, which is why the Trinamool Congress Party (TMC) pulled out of the government. “The principle behind an alliance is to consult your partners, but clearly the TMC was not consulted”.

Taking a dig at anti-corruption activist Arvind Kejriwal who recently announced the formation of a new political party, Naidu said it was easy to form a political party, but not everyone was capable of sustaining one. “Someone cannot suddenly come into the political arena and become the people’s alternative. This is not a simple thing,” he said.