This refers to the editorial, “living in a dream world” (July 22). Prime Minister Manmohan Singh's address to industry leaders was purely political. Various data released by the Government of India and other international agencies speak deprecatingly about our economic health.
Many reports present a gloomy picture on hunger, malnutrition, human resource development and corruption, as it exists today. The steady drop in industrial and agricultural production, loss of employment, unabated inflation and fall in domestic savings have only confirmed the nation's failing health.
During the NDA regime, employment in manufacturing sector grew exponentially and 60 million new jobs were created. The UPA Government first claimed that the economy was based on strong fundamentals, then took refuge under the ‘global economic crisis' when things started slowing down, and now unable to tackle the bleak economic situation, it has resorted to accusing the Opposition and the media for distorting facts. The economist Prime Minister should introspect how this has happened under his stewardship.