New Delhi: The BJP on Sunday claimed that econonmic recession has reached the country's doorstep and accused the UPA of not taking sufficient measures to prevent its effects.
"As far as the country's economy is concerned, recession is at our doorstep. The government has not reacted to the situation and has failed in taking adequate measures to counter its effects," party General Secretary Arun Jaitely
told reporters here.
Recalling steps taken by Vajpayee regime when faced with a similar liquidity crunch in the year 2003, he said, Vajpayee initiated many programmes including the Pradhanmanti Gram Sadak Yojana and National Highways Project which injected liquidity into the market and helped the economy recover from the crisis."
Noting that any government would have automatically taken steps to boost liquidity in times of an economic slowdown, he said it is unfortunate that the UPA regime has turned a blind eye to everything, he added.
"The priority should have been to pump more money into the market. It is sad that the Prime Minister Manmohan Singh, though an economist, has failed to understand the situation," Jaitley said.
The saffron party also criticised the government for not slashing down prices of petroleum products despite the fact that the international prices of crude oil have come down substantially.
"Normally in times of recession, the prices come down. In petroleum, the international prices of crude oil have come down from USD 147 to below USD 50 per barrel. We would like to ask why the benefit has not passed on to the common man. Any sensitive government would have done so," he said.
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