New Delhi, Sep 30 (IANS) Calling the United Progressive Alliance (UPA) government a failure on the economic front, Bharatiya Janata Party leader Arun Jaitley Friday said Prime Minister Manmohan Singh, an economist, was helpless in front of crony capitalism.
‘There is crony capitalism, corruption and the increasing tolerance for the same within the UPA. The economist prime minister appears to be helpless,’ Jaitley said at the party’s national executive meet.
‘The current economic situation in India is quite worrisome as we watch helplessly the growth momentum slipping rapidly on account of high inflation and loss of business confidence because of failure of governance, and corruption in high places,’ he said.
Calling the government ‘heartless’, the BJP leader attacked the UPA for ‘ruthlessly’ increasing oil prices. He said the foreign direct investment (FDI) was decreasing and even the Indian industries were moving out of the country.
‘There is a decline of growth with all-round increase in prices. It is a structural problem created by the UPA’s inability to bring forth the correct policy prescriptions,’ he added.
