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Naidu slams Centre for economic mess
The Telugu Desam Party president N Chandrababu Naidu felt that rampant corruption and the Congress-led UPA government’s ill-advised policies are putting the country’s economy on the brink of collapse. Addressing the press here on Tuesday, Naidu owed the falling rupee value and withdrawal of foreign investments in key sectors to the poor economic strategies of the government He said the UPA was suffering from ‘policy paralysis’ which was affecting all sectors. Country’s growth fell down to five per cent from nine as the Centre failed to take necessary steps to contain economic meltdown.
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Hyderabad: Telugu Desam Party supremo N Chandrababu Naidu went hammer and tongs against the UPA government for pushing the country into economic mess by pursuing lopsided policies. Addressing the press here on Tuesday, Naidu owed the falling rupee value and withdrawal of foreign investments in key sectors to the poor economic strategies of the government
He said the UPA was suffering from ‘policy paralysis’ which was affecting all sectors. Country’s growth fell down to five per cent from nine as the Centre failed to take necessary steps to contain economic meltdown. Adding to it, the multi-crore 2G spectrum, Coalgate, mining, land and Common Wealth Games scams and corruption in the governance landed the country into deep financial crisis, he added.
Demanding the Prime minister Dr Manmohan Singh to explain the reasons for the present economic crisis in his government, Naidu wondered as to why the Prime minister was maintaining silence in the crucial time. Investors were leaving the country fearing that they might fall in debt trap with the increasing interests on loans after rupee value fell down in international market. The recent policies adopted to attract FDIs in different sectors have not received good response because the policies were framed to benefit some vested interests, he said.
Stating that the UPA has no right to rule the country after its failure in all fronts, the TDP leader said common man was burdened heavy with the skyrocketing prices of essential commodities. No steps have been taken to contain the prices of vegetables, onions and edible oils. Naidu also blamed the centre for not conducting study to ascertain the reasons for the economic decline.
Referring to the bifurcation of State, he alleged that Congress took ‘hasty’ decision to create Telangana to keep away the TDP from coming to power in the State in the next election. The party conspired to gain political advantages by creating hatred between people of two regions in the form of division of State. Congress had a secret understanding with TRS in Telangana and YSR Congress in Seemandhra to defeat Telugu Desam, he added.
