Leader of the Opposition in the Rajya Sabha Arun Jaitley on Friday blamed the UPA government for the current state of economy saying the ruling UPA government has lost the confidence of both domestic and global investors in the past years owing to policy paralysis and ignoring warnings from across the world.
Reacting to the statement of Prime Minister Manmohan Singh on the condition of the economy and the falling rupee in the Rajya Sabha, Mr Jaitley asked while speaking in the Upper House, “You want to go back to prudence or give priority to populism?” He said India is also losing confidence of investors not only abroad but also in India.
Referring to the PM’s remarks where he emphasised the need for larger consensus on economy, Mr Jaitley said “consensus emerges out of a political environment’’ but if such a consensus is not built up by the government and instead fractured by them, it is not possible to have consensus. “No government can say that I want consensus and be democratic but I am only a democrat when in distress,” he said.
“We welcome a consensus,” he said. “...Your idea of democracy is that when the government is in trouble, you need the help of the Opposition parties. This is the arrogance of Congress and the government,” he added. Attacking the government for the current state of the economy, Mr Jaitley said “domestic factors have also contributed to the mess that the country has landed in”. “The legacy that you leave behind is going to be ‘after we, the deluge’,” he said. While attacking the government for its failure to control the economy, Mr Jaitley said, “A failed candidate in the class always has the explanation that the whole class has failed.”
Earlier, taking a jibe at Prime Minister Manmohan Singh Singh, Mr Jaitley said, “We are extremely grateful to Prime Minister that he has finally spoken on the issue which is of utmost concern to the country.”