UPA govt an economic disaster: BJP

BANGALORE: The BJP on Sunday came down heavily on the Manmohan Singh government for its ���failures on the economic front,��� and made it clear that it would not bail the ruling coalition out in its attempts to push the reforms process.

The economic resolution passed by the BJP���s national executive here on Saturday not only described the UPA government���s performance in the field as ``an unmitigated disaster,������ but also dubbed it as being ``anti-aam aadmi (common man), anti-farmer, anti-middle class, anti-working class and anti-poor.������ It exhorted the people to vote out the Congress-led alliance in the coming elections to be spared the pain being inflicted on them.

The resolution, which was drafted by former union finance Yashwant Sinha, came under intense scrutiny during the discussion that followed its presentation before the national executive members here on Saturday. Quite a few participants felt that it was packed with figures that had little relevance for them, while BJP general secretary Gopinath Munde contended that issues such as farmers��� travails and fertilizer shortage had been glossed over. The final document, which was released here on Sunday afternoon, mirrored their concerns.

The party sought to tap the growing popular disaffection with the government for its failure to rein in prices by presenting a detailed critique of the manner in which it was being handled by the economic managers.
The single most important issue in the economy today, the resolution stated, is price rise and its adverse impact on the aam aadmi.

``The Economic Survey presented to Parliament this year notes in its very first paragraph that the decisive change in growth trend also means that the economy was perhaps not fully prepared for the different set of challenges that accompany fast growth. This is an admission of failure by the government itself. Why did it not prepare the economy to meet these challenges,������ it asked.

The measures set in motion by the UPA government to control prices, it argued, had proved to be inadequate. ``The BJP is convinced that as long as fiscal issues and supply side constraints remain unaddressed, merely monetary steps will not suffice. Even the prime minister���s Economic Advisory Council has noted that the economy continues to be supply-constrained, most acutely in the areas of physical and social infrastructure such as electricity, irrigation and drinking water, road and rail transportation and urban and rural infrastructure,������ it observed.

High inflation had inevitably led to high interest rates, which had hit the middle-salaried classes hard.

``Increasing interest rates have created a double jeopardy for the middle class. While on the one hand his budgetary calculations have gone haywire as a result of increasing prices, he is now required to pay 35-40% more by way of equated monthly installments for loans that he may have taken to construct a house, buy a flat or any other consumer durable,������ the party noted with concern.

The BJP also questioned the Congress��� pro-farmer credentials, alleging that it was in fact anti-kisan.