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Time for alternative economic policies: Rajnath Singh
Updated : Nov 21, 2013, 01:44 PM IST
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Blaming the Congress-led United Progressive Alliance (UPA) government for the country's economic crisis, BJP president Rajnath Singh Monday said the prime minister was "not a realist" and called for an alternative economic model.
Holding the UPA's "wrong economic policies, faulty planning and corruption" responsible for the "economic turmoil", Bharatiya Janata Party chief Rajnath Singh said the time had come for an alternative economic model, with major emphasis on developing the rural economy.
"To run a country and its economy, you don't need an economist, rather a realist. Unfortunately, our current prime minister has been found lacking on this front. Despite leading India into economic turmoil, the prime minister has preferred to remain silent," Rajnath Singh said at an event here.
Speaking at an interaction programme, "Outlook for a Balanced Economic Growth", organised by the Merchants' Chamber of Commerce (MCC), Rajnath Singh said there has been a steep decline in all economic indices, and the people of the country now seek change.
"The rupee is on ventilator, dollar on escalator. The investors are on the runway seeking greener pastures abroad, while the youth of the country are on the highway, for there is no employment. This is all because of the UPA. People are now seeking change," Rajnath Singh said.
Observing that the country's economic model, formulated by aping the west, has outlived its utility and was now yielding negative results, Rajnath Singh called for adopting a pragmatic approach in developing an alternative economic model which should give major emphasis to boosting the rural economy.
He also said bureaucratic and executive bottlenecks were a big hurdle in India's industrial growth, and called for balanced economic reforms.
"There is an urgent need for undertaking balanced economic reforms, but at the same time the country's economic autonomy as well as its financial stability should not be compromised. Despite our repeated suggestions, the centre has chosen not to act at all to arrest the economic slump," Singh said.
