Rising inflation an indicator of UPA's failure : BJP

Subscribe to Oneindia News

New Delhi, Aug 8 (UNI) With the inflation figures breaking the 13 year record to surmount 12 per cent range, the BJP today said it only shows that all the measures taken by Finance Minister P Chidambaram and his team had totally failed.

BJP spokesman Ravishankar Prasad said Mr Chidambaram had claimed five months ago when inflation was surging that the measures taken by him would start yielding results but the present economic scenario doesn't give any such indication.

He said the government had totally bungled with the supply side of the food, economy was totally ignored as it did not have political will to effect changes that could bring relief to the common man.

Meanwhile, another BJP spokesman Prakash Javadekar analysing the inflation trend said the rising graph of prices was not an accident or a natural calamity but a result of omissions and commissions of the UPA government. They have now proved that the hand of the Congress was with the mehangai (prices), he remarked.

Prices, he said were climbing up gradually since April and the medicines administered by the UPA, like raising CRR and Repo Rate, had only proved to be counter productive and the interest rates on housing loan now hovered around 14 per cent compared to seven per cent during the NDA regime, he said.

He recalled that Mr Chidambaram had declared a war against catelisation of cement and steel prices but the prices were only looking up northwards, he said.

As regards the food production, the country had enough production of wheat and rice but there had been no respite for the common man. Pulses and edible oil prices were also going up despite good production and the government is totally clueless, he said. UNI MCN KAS PD BST1659

Please Wait while comments are loading...