Govt has run out of ideas to tackle eco crisis,should quit: BJP

With the rupee breaching an all time low of Rs 68 against the US dollar and fears of mounting fiscal deficit, BJP today said the government has run out of ideas and should quit.

The Left parties attacked the government's policies and said the country was heading towards an economic emergency.

The BJP asserted the UPA government should step down charging that it has 'completely run out of ideas to deal with the crisis'.

'I have been saying that the only thing that will stabilise rupee and market at this point of time is for the government to resign and go for fresh elections,' BJP leader and former finance minister Yashwant Sinha said.

'Indian economy under Manmohan Singh is on ventilator in the ICU...It is happening because of big CAD and fiscal deficit, and complete lack of trust of investors in the present ruling establishment,' Ravi Shankar Prasad Deputy leader of opposition in the Rajya Sabha said.

Endorsing Sinha's views, Prasad said that 'sooner the government goes better it will be for the country' as the present dispensation has 'completely run out of ideas.'

'Why is the Prime Minister silent,' he asked, saying in the prevailing crisis, it was for the economist PM to assure the country of the steps being taken to deal with it.

Making a veiled remark on enhanced public expenditure envisaged by the government on account of the proposed Food Security Bill, Prasad said '...In this scenario you keep doing reckless expenditure and populist measures. These will only aggravate the problem.'

CPI leader Gurudas Dasgupta said the country is heading towards 'economic emergency.' He said speculators were having a hey day and the government was showing no political will to contain the situation.