The Hindu : Karnataka / Bangalore News : ‘UPA should explain rising inflation’

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Monday, Aug 18, 2008
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Karnataka

Karnataka - Bangalore

‘UPA should explain rising inflation’

Special Correspondent

Venkaiah Naidu criticises Centre

‘International oil prices have reduced’
‘It only debunks Government’s claim’

M. Venkaiah Naidu

BANGALORE: The Bharatiya Janata Party on Sunday demanded that the United Progressive Alliance (UPA) Government should explain to the country why it has not been possible for it to put a brake on the increasing inflation rate in the country though the international crude oil prices have seen a reduction and the country’s foodgrain production has remained good.

Addressing a press conference here, BJP leader M. Venkaiah Naidu said that the fact that the inflation rate is continuing to shoot up in the country even after a steep reduction in international crude oil prices has debunked the UPA Government’s claims that the international price situation was solely responsible for the high inflation rate in India.

Mr. Naidu pointed out that the international oil prices had reduced from $ 170 a barrel some time ago to $ 115 now. Mr. Naidu wondered why inflation has not reduced in the country though the international crude oil prices have come down if the UPA’s claims that inflation is linked to international prices are true.

On the other hand, the inflation is ruling at a 16-year high in the country, he said.

‘Mishandling’

“This is a clear indication that the country’s high inflation rate is mainly due to the mishandling of economic affairs by the UPA Government and its wrong economic policies and not the international price situation,” he said.

Mr. Naidu remarked that the UPA Government was duty bound to explain to the country why inflation is still high.

Demand

He also demanded a reduction in the oil prices in the wake of the reduction in prices of crude oil at the international level.

He said that the country’s growth rate had taken a beating under UPA’s rule as the growth rate, which stood around 10.3 per cent during the National Democratic Alliance (NDA) Government rule, had now slumped to 5.2 per cent.

This had resulted in a slowdown in the industrial sector, especially the manufacturing sector, he added.

Asked if the BJP would demand the resignation of the UPA Government, he said the BJP actually wanted the UPA Government to continue in its present form for some more time so that it will become more unpopular. “The UPA has won the (trust) vote, but has lost the trust,” said.

Blame

Mr. Naidu blamed the Congress and the Prime Minister as entirely responsible for the crisis in Jammu and Kashmir in connection with the row over the withdrawal of grant of land to Amarnath Temple.

‘Double standard’

The “paralytic policies” of the Centre on issues concerning Kashmir and the “double standards” of the Congress as well as its allies are responsible for the crisis in Jammu and Kashmir, Mr. Naidu said.

He charged the UPA and its allies with surrendering themselves to the separatist forces.

He claimed that the grant of land had been earlier made to the temple as per a court order. It was the Congress which had decided to grant land.

He said that the resolution on giving land had been moved in the State Cabinet by a Minister belonging to the People’s Democratic Party, an ally of the Congress. But the People’s Democratic Party itself is protesting against the grant of land now.

To whether the BJP would seek nationalisation of iron ore mining, he only said that the party had an open mind in this regard. But a policy in this regard should be evolved after a thorough debate and analysis, he added.

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