Yashwant Sinha has 18 questions for P Chidambaram on price rise, economic growth and employment
30 March 2014 6:15 PM GMT
Sinha, himself a former finance minister, claimed that the high economic growth rate witnessed in the first four years of UPA I (2004-2007) was largely on account of measures initiated by the NDA govt and not because of any steps taken by UPA governments.
'You really harvested what was sown by us,' he said. 'Is it fact that after 10 years of misrule by the UPA government economic growth rate has once again slowed down drastically... the GDP growth rate for seven consecutive quarters has been below 5 per cent?' he asked.
He said the GDP growth rate has registered a mere 4.7 per cent in October-December quarter of 2013-14. Manufacturing and mining registered a decline of 1.9 per cent and 1.6 per cent during the quarter, he said further.
Sinha said these numbers would have been worse but for 7 per cent increase in the personal, community and social services category 'reflecting irresponsible government spending rather than real economic expansion'.
Taking a dig at Chidamabram, who had announced he would not be contesting this elections, Sinha asked: 'Is it a fact that the markets have celebrated your announcement of not standing for the elections; that on 19 March 2014 when you made this announcement the BSE sensex shot up by 125 points, that the forex market was also delighted and the rupee has strengthened considerably against the dollar since then.'
On the issue of employment and job creation, quoting a survey by NSSO (National Sample Survey Organisation), Sinha said that over 6 crore job opportunities were created between 1999-2000-2004-05 (NDA government) as opposed to 1.5 crore between 2004-05 to 2011-12 (UPA governments).
'You really harvested what was sown by us,' he said. 'Is it fact that after 10 years of misrule by the UPA government economic growth rate has once again slowed down drastically... the GDP growth rate for seven consecutive quarters has been below 5 per cent?' he asked.
He said the GDP growth rate has registered a mere 4.7 per cent in October-December quarter of 2013-14. Manufacturing and mining registered a decline of 1.9 per cent and 1.6 per cent during the quarter, he said further.
Sinha said these numbers would have been worse but for 7 per cent increase in the personal, community and social services category 'reflecting irresponsible government spending rather than real economic expansion'.
Taking a dig at Chidamabram, who had announced he would not be contesting this elections, Sinha asked: 'Is it a fact that the markets have celebrated your announcement of not standing for the elections; that on 19 March 2014 when you made this announcement the BSE sensex shot up by 125 points, that the forex market was also delighted and the rupee has strengthened considerably against the dollar since then.'
On the issue of employment and job creation, quoting a survey by NSSO (National Sample Survey Organisation), Sinha said that over 6 crore job opportunities were created between 1999-2000-2004-05 (NDA government) as opposed to 1.5 crore between 2004-05 to 2011-12 (UPA governments).
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