The political party gave a sharp reaction to the downgrading of the Indian economy by Standards and Poor saying lack of decision-making powers with the Prime Minister and arrogance of the regime has led to this state of affairs.
In a sharp reaction to the downgrading of Indian economy by Standards and Poor, BJP on Wednesday alleged that policy paralysis within UPA government, lack of decision-making powers with Prime Minister Manmohan Singh and arrogance of this regime has led to this state of affairs.
"The possibility of India being downgraded as an economy from stable to negative is extremely disturbing. The consequences for the Indian economy are very grave. Investor confidence in India could decline further. International borrowings will become costlier," Leader of the Opposition in Rajya Sabha Arun Jaitley said.
He maintained if the grading is at a negative level, India is in the company of countries where the economy is doing badly.
"The Indian growth story has suddenly turned sour. The responsibility for this goes exclusively to the government. It is the policy paralysis of the last few years and misconceived priorities of the government which are exclusively responsible for this mess," Jaitley said.
International rating agency Standard and Poor has downgraded India's rating from BBB+ to BBB-.
BJP insisted political and economic correctives by the government would be required to come out of this crisis.
The opposition hinted at differences between the government and Congress as the reason for "indecisiveness".
"I am sure the Prime Minister knows what the problem is and there should be a vestige of political authority in him to take the economic decisions on behalf of this government. He must display leadership at this hour," Jaitley said.
Reacting to reports that some ministers want to quit the government and work for Congress, Jaitley said "the government and its senior ministers cannot be indifferent to this situation nor can they be seen sulking. They must be seen to be overactive in dealing with this situation."
BJP demanded the "policy paralysis" in UPA government must end and it should make generating growth and eradicating poverty its priority areas.
The party also suggested the opposition be taken on board on important policy issues.
"The government must discard its introvertish attitude in dealing with other parties and shed its arrogance in dealing with the oppostiion to tackle this situation," Jaitley said.
Party Chief spokesperson Ravi Shankar Prasad maintained that India's economic identity has suffered a "serious dent" due to this downgrading by Standard and Poor's.
Attacking the Prime Minister, Prasad said he may not have the reputation of being a great politician but he was referred to as an economist of stature but this has been "proved wrong" by this downgrading.
The BJP leader asked the government to stop accusing the opposition for not cooperating and maintained if constructive reciprocal efforts are made, the party will support but not if there is a "facade of consensus".
"The government and Congress are not on the same page. Decisions are taken at 10, Janpath and not at 7, RCR. Even the Prime Minister and his Finance Minister are not on the same page," Prasad alleged.
BJP also rubbished claims that government is not able to take decisions due to compulsions of coalition politics and insisted that the NDA government had 24 constituents and yet took decisions.
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