It warned of a nation-wide agitation if its demands were not met.
In the economic resolution moved at its national council meeting here, the party attacked Prime Minister Manmohan Singh, saying the "the country has to suffer the ignominy of experiencing economic downslide under leadership of an economist prime minister".
It said every economic parameter had steadily declined under the United Progressive Alliance (UPA) government led by Manmohan Singh.
The resolution said UPA government had inherited a robust 8.25 percent growth rate from National Democratic Alliance government in 2004 but it had now declined to around five percent.
"Instead of working towards a 10 percent growth rate with five percent inflation, in its nine years, the UPA has achieved the exact opposite - a 10 percent inflation rate and five percent growth rate. ..The mess of economic mismanagement under the Congress-led UPA government has taken the country many decades backward," the resolution said.
It said that instead of seeking efficiency in revenue generation, the UPA has solely depended on raising taxes and prices which is burdening the common man.
The BJP accused the UPA government of being synonymous with corruption and said it was a factor for price rise.
"Corruption is also an important trigger for inflation, a dampner for honest investment and a reason for growing fiscal deficit," it said.
The UPA government was also charged with offering "jobless growth" and policies that were against interest of farmers.
The BJP demanded adoption of Swaminathan Committee formula for remunerative prices, minimum income guarantee scheme for farmers and waiver of loans of farmers."The BJP demands roll back of all hikes in administered prices of petrol, diesel and capping of gas cylinders and bringing down prices of all essential commodities by necessary policy revamp," the resolution said, also demanding immediate steps to bring down fertilizer prices.