Current economic situation worse than 1991 crisis: Chandrababu

TDP president Chandrababu Naidu today alleged that India's current economic situation is worse than the crisis it faced in 1991 but the UPA government grossly failed to address it.
"There is no governance. There is policy paralysis. Added to it is corruption. The Congress-led UPA has totally ruined India in the last nine years," Chandrababu said.
Addressing a press conference here this afternoon, he alleged that the central government itself was acting like a mafia, leaving the country to suffer.
"I have not seen such a worst situation in my political life. Rupee has fallen to its lowest level. Foreign investors are shying away from the country. There is no accountability in the government and the Prime Minister is silent, as always," Chandrababu criticised.

Ridiculing the Prime Minister's claim that Indian economy would not see a repeat of 1991, the TDP chief said, "The scene is scarier than 1991. Is this the result of 22 years of economic reforms?"
Corruption became a big bane to the country but the UPA government always remained indifferent on the issue. "The Prime Minister is in no position to control corruption. Files related to the 'Coalgate' were missing from the PMO itself. What will the Prime Minister answer to this?" he questioned.

He also came down heavily on the UPA government for "not studying" the economic situation and coming out with corrective measures.

"There are no fresh policies (to revive the economy). GDP growth rate plummeted to five per cent and it is doubtful if we can achieve even that. India hasn't seen such a worst government in its history. The Congress and the UPA have grossly failed the people," he added.
It was time people understood the reality and "punish" such parties, he said.
Asked if a Third Front could be an alternative to the country, he said it would be decided in due course of time.
"The UPA has miserably failed. The NDA has its limitations. We will decide what to do in due course of time," Chandrababu said.

He replied in the negative when asked if CPM general secretary Prakash Karat spoke to him over the formation of the Third Front.