Oppn slams FM for blaming predecessor for economic crisis

Opposition today attacked Finance Minister P Chidambaram for blaming his predecessor for the ills facing the economy and told the government to get out if it cannot rescue the country from the 'irretrievable' situation created by its 'incompetence and corruption'.

Initiating a discussion in the Lok Sabha on the Supplementary Demands for Grants (General), BJP leader Ananth Kumar dubbed Chidambaram as 'anartha shastri' (expert in creating chaos) and held him responsible for the current economic situation which was 'irretrievable'.

'If they are not capable of leading...Govern or get out. ...The people's dreams of a robust and prosperous economy have been ruined by the incompetence and corruption of this government,' he said.

While the economy is in a 'mess' with high inflation, fiscal deficit and current account deficit, the government has been blaming the opposition, the BJP, as also outside supporters like SP and BSP, apart from the UPA constituents.

'The UPA had earlier created jobless growth. Now there is no job, no growth. It is in fact negative growth,' he said.

The Finance Minister had recently blamed his predecessor for the problems in the economy, Kumar lamented, saying Chidambaram 'owes an explanation to the country for his comments. ... People have now started calling him 'anartha shastri''.

Chidambaram's predecessor was Pranab Mukherjee, who is now the President.

The BJP MP attributed the problems facing the economy to the stimulus package announced by Chidambaram in his earlier tenure as Finance Minister in 2008-o9, which started 'the beginning of the fall of the Indian economy.'

He also made a strong plea to lower the income tax rate from ten to five per cent to give relief to 3.5 crore households who earned less than Rs five lakh per annum and have been hit hard by rising prices.