PM should step down if he cannot stop rupee’s slide: BJP

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With the rupee going downhill, BJP Wednesday said bankruptcy of ideas and indecisiveness of Congress-led UPA government is responsible for it and demanded that economist Prime Minister Manmohan Singh steps down if he cannot stop the slide.

“Manmohan Singh became the finance minister and later the Prime Minister of this country due to his reputation of being a great economist. If he cannot control the slide of the rupee or improve the state of the economy then he has no right to continue in office and should step down,” BJP spokesperson Shahnawaz Hussain said.

Another party spokesperson Prakash Javadekar blamed the fall of the rupee against the US dollar on “complete bankruptcy of ideas, indecision and non-governance of the UPA government.”

“Manmohan Singh and his team of ministers are clearly to be blamed and must own responsibility. If the government would have taken timely action on the import-export front and would have done massive public investment in infrastructure, the health of the economy would have been better,” Javadekar said.

Citing the example of Mexico and other countries that faced a similar challenge, Javadekar said they showcased how they could stabilise their currency with a major push of reforms. This helped them withstand the pressure created by the sudden outflow of FIIs (Foreign Institutional Investor).

“The country and its people will have to pay for the follies of this government. There will be all round price rise and millions will lose jobs and the common man will suffer. It is the non-governance of the UPA which is responsible for the crisis,” Javadekar said.

The BJP leader charged that the government is clueless and the economic situation has gone out of hand.

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