UPA has run out of ideas in tackling economy: Jaitley

UPA has run out of ideas in tackling economy: Jaitley
PTI
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First Published: Mon, Jul 20 2009. 12 39 AM IST
Updated: Mon, Jul 20 2009. 12 39 AM IST
Patna: Charging the UPA government with running out of ideas, leader of Opposition in Rajya Sabha Arun Jaitley today said it “showed” in the union budget which would take the entire economy into a “debt trap scuttling overall growth”.
“The (economic) situation is of great concern today ...not seen in the past 15 years....the government is clueless how to tackle the global recession...The government has run out of ideas,” Jaitley said in a seminar on union budget organised by BJP’s business cell.
The budget talked of creating 1.20 lakh crore jobs but “failed” to devise such a policy or scheme, which could either give fillip to investments or create jobs on large scale, the BJP heavyweight said.
Referring to the Rs10.30 lakh crore budget, Jaitley claimed that the huge borrowing of Rs4.25 lakh by the Centre to meet its expenses from the market would crowd the private sector investment which would squeeze the growth.
The BJP leader said that UPA government talked of inclusive growth which was not possible without helping a poor state like Bihar out of the mess.
“Bihar did not find any mention in the union budget whereas some state-specific announcements have been made in the budget due to political considerations,” he said, without naming the states.
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First Published: Mon, Jul 20 2009. 12 39 AM IST
More Topics: Arun Jaitley | UPA | Economy | Recession | Jobs |