Country facing economic emergency: BJP

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New Delhi, June 26 (IANS) Asserting that the country was facing an “economic emergency”, the BJP Tuesday said that the government is trying to protect the business interests of some foreign corporates and capitalists, due to which unemployment and inflation have touched the peak.

“The government’s economic liberalisation policy has turned into indebtedness to the US, following which the dollar has become dearer and the rupee has hit an all-time low,” said Bharatiya Janata Party vice president Mukhtar Abbas Naqvi at a function here.

Naqvi said that whenever the prime minister and the finance minister have set deadlines for an economic miracle, the country has witnessed an economic slowdown.

“In fact, the government of economists has got totally disconnected from the grassroot due to which, despite being rich in resources, the country is unable to overcome its economic difficulties,” he said.

The BJP leader regretted that now the US was deciding as to from whom India should purchase oil, and under American pressure India has reduced the quantity of its cheaper oil import from Iran.

“The international crude oil prices are falling by the day but in India, the prices have sky-rocketed. Even in neighbouring Bangladesh and Pakistan, petrol is being sold at half the price here,” he said.

IANS 2012-06-26 22:34:52