Badal demands white paper on UPA's 'fiscal mess'

Punjab Deputy Chief Minister Sukhbir Singh Badal Tuesday demanded a white paper on the fiscal mess created by the Congress-led UPA government with the rupee plunging to a new low of 61.86 against the US dollar.

Badal said the downward trend in the country's economy was of concern for every citizen as this would have a cascading effect on inflation. He sought a white paper from the central government on the country's present fiscal mess.

He expressed concern that investors were fleeing the country with the rupee on a continuous downslide. He said that the free-fall of the rupee would further de-accelerate the country's economy.

"The bankrupt union government has lost the faith of people and investors. The situation has come to such a point that investors were not even ready to subscribe to the share sale of renowned public sector undertakings at record bottom rates. With an economist-turned-prime minister at the helm of affairs, the economic deterioration of country reflects total mismatch in the policies and execution of the union government," Badal said.

Criticising the policies of the UPA government, Badal said that these were helping multi-national companies (MNCs) to fill their coffers while the common man was facing the brunt of the inflation.