Oppn slams govt in LS over state of the economy

Taking a dig at PM and Finance Minister, the opposition members said they have been assuring the country that all is well and prices will be controlled but the reality is otherwise

Opposition parties today pilloried the government over the state of the economy, saying its 'reckless policies' have created a massive disaster, despondency and uncertainty in the country and that UPA's exit from power is the only remedy to the situation.

Citing rising prices, slowdown in growth and depreciation of rupee among the problems facing the economy, the opposition members said in the Lok Sabha that they feared the repeat of the 1991 crisis when the country had to mortgage gold as it failed to meet short-term debt obligations.

Taking a dig at Prime Minister Manmohan Singh and Finance Minister P Chidambaram, the opposition members said they have been assuring the country that all is well and prices will be controlled but the reality is otherwise.

Participating in a debate on the economic situation in the country, BJP leader Yashwant Sinha said, 'The government has lost control over the economy. So it is better that it goes.'

Suggesting that the government was deliberately 'playing with' the economy' since the last five years, he said, 'the result is that the whole nation is suffering.'

Contending that the country had never seen such a 'corrupt and incompetent' government, he said, 'we don't want this government anymore. Let us go to the people now. If you have courage, let us go to the people. There is only one solution (to the economic problems), go. Let people decide.'

At the same time, the former Finance Minister said the Congress-led coalition will not give up power as it uses government 'to make thousands of crores'.

Referring to volatility in the currency, Sinha said the government has failed to control it. 'Market is disturbed and whatever is happening, it is not good for the country.'

Initiating the debate, CPI leader Gurudas Dasgupta said, 'the country is facing a massive disaster and economic tsunami because of reckless policies of the government.'

He said the government should take responsibility for the state of 'despondency, fear and uncertainty.