Government failed to check slowing economy, says BJP

June 25th, 2012 - 8:09 pm ICT by IANS  

Bharatiya Janata Party New Delhi, June 25 (IANS) The Bharatiya Janata Party Monday criticised the moves of the finance ministry and the Reserve Bank of India (RBI) to boost the slowing economy, saying they had failed in their purpose.

“The government has failed…four steps announced by the RBI and the finance ministry to check a slowing economy resulted in the share markets coming down,” BJP spokesperson Prakash Javadekar told reporters.

“This is a cosmetic exercise and indicates policy paralysis in the government.”

Noting that the value of rupee went down by 30 percent since last year, Javadekar said people wanted some relief from the government.

The Reserve Bank of India announced a series of measures, including raising limits for external commercial borrowings and government securities, aimed at reviving the battered currency and the economy.

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