Perturbed over the heavy downslide of Indian rupee and Central Government’s inability to stem the rot, Chief Minister Raman Singh on Saturday wished for early exit of the UPA Government led by the Congress not only for salvaging the buoyancy of the Indian currency but also the country’s pride.
Talking to some journalists at his residence here, Singh held the UPA Government summarily responsible for the rupee nosediving against dollar and assigned the wrong economic policies of the Central Government to the fiscal mess. He charged that the UPA Government under the leadership of Sonia Gandhi and Manmohan Singh has virtually ruined the nation’s economy.
Due to the fall in value of rupee, economic development of the nation has been affected badly. While industrial chain suffered greatly due to the rupee fall, cost of setting industry has gone up 10-15 per cent. This has directly affected the investment scenario as the industrialists have started looking on outward options as the Central Government was in a State of indecision.
In this scenario, sooner the UPA Government makes exit, better it would be for salvaging the buoyancy of the rupee as well as return of the nation’s pride. He parried the question of journalists on making the State tax-free saying why did not the UPA Government make Delhi and other Congress-ruled States tax-free. It would be nice for the Congress-led Central Government to stem the slide of rupee and control the rising prices instead of thinking about a tax-free regime. He also blamed the wrong policies of the UPA Government for rising inflation.