Urban Mirror Correspondent
New Delhi, May 18: The Lok Gathbandhan Party today criticised the NDA government’s faulty fiscal and economic policies which have now caused in steep fall in rupee in international market. The party said fall of rupee to 68 to a dollar, which is lowest in a year, indicated the country’s declining financial index for which the NDA government is responsible.
The spokesman of the party said here on Friday sharp drop in rupee is matter of concern as there has been consistent slide since the beginning of the year making it worst performer among major Asian currencies. The spokesman said that even though the NDA Government has been trying to paint a rosy picture of the economic condition of the country, the situation is far from stable and upward looking as on employment and agriculture and education, infrastructure, industrial fronts acute crisis is looming large over India. The spokesman said under the prevailing situation there is need to mount vigil as the country is facing macroeconomic vulnerabilities.
The spokesman that the NDA government projection of 7-7.5% annual growth was based on its calculation on global forces. The spokesman said by putting onus on the world economy maintaining momentum and oil prices staying reasonably well, the NDA government has tried to find an easy escape route for it its failure. The spokesman said the outlook therefore appeared to be uncertain.
Pointing out that employment, education and farm sectors are facing acute crisis, the spokesman said the government has not explained any action plan to improve the fiscal and economic situation. With country’s 73% wealth concentrated into the hands of just 1% rich people, the spokesman said the government’s claim of all-round balanced growth is far-fetched. Similarly with the primary and middle education in rural areas lagging behind, the spokesman said that employment generation is unlikely to take off. The spokesman said government’s assertion that adverse impact of demonetization and lackadaisical approach in the implementation of Goods and Services Tax (GST) has worn off is not based on ground realities, as the people are still facing problems.
The spokesman said with prevailing poor and under-developed condition the NDA government’s claim for becoming a global player could not be more than a misleading political slogan. The spokesman said with country facing challenges on several fronts, there have so far been only haphazard attempts to solve them. The LGP has thus demanded that a more coherent approach with honest and transparent emphasis on agriculture, Industrial, education employment-both skilled and non-skilled- is urgently required to push growth.
