Leader of opposition and former Chief Minister Prem Kumar Dhumal accused the faulty policies of UPA Govt for the fast devaluation of rupee which has crossed the level of Rs 60 in comparison to the US dollar. He said this is a record devaluation of Rupee since the independence. The Indian Economy has been totally shattered during the UPA rule of the last nine and half years. All Economic policies have failed to restore the Indian Economy. He feared that common man will face the fast increase in the prices and unemployment if the UPA Govt is not removed from India immediately.
Dhumal claimed that the faulty economic policies of the UPA Govt have increased inflation in the country which has affected the common man. The Devaluation of the rupee will further increase inflation in the country. The Imports will become costly due to the fast devaluation of the rupee. The import of Petroleum products, steel and coal etc. etc will increase our import bill with the devaluation of the rupee. He said the permanent remedy with the common man is to oust the UPA Govt from the center in the coming Lok Sabha Elections.
BJP senior leader said that the fast devaluation of rupee will make the exports cheaper and export industry will be hit hard. The producers will be forced to reduce the production as they will not be able to recover the production cost. The investment in the industry will decrease due to the negative export incentives to the producers. The fall in the production and investment in the export sector industries will force the industry to reduce employment and will also affect the future employment in the industry. He said that the UPA is playing with the future of our educated young generation in the country due its wrong economic policies.
The Inflation in the economy has increased to double digit during the UPA Govt, which has slowed down of the Indian economy due to the high cost of production and has forced the Indian investors to shrink their production capacity. The move of the Govt to increase freight charges in the railway budget and decontrol of petrol and diesel prices has also lead to the fuel the inflation in the economy. With the further decontrol of the consumer commodities like sugar, the inflation is going to play a negative role in the growth of the economy.
The faulty economic policies of the UPA Govt have lead to the fall in the growth rate of the Indian economy. The Growth rate of the Indian economy has fallen to 5.2 percent against the targeted growth rate of 7.6 percent in 2012-13. The targeted growth rate in 2011-12 was 9.2 percent. The fall in the growth rate of the economy will lead to inflation and unemployment in the economy in the years to come. The Governer of the Reserve Bank of India has already warned the UPA Govt to take timely steps to increase production and investment to restore the economy.
Dhumal said that the UPA Govt in the centre has sold the Indian economy in the foreign hands. The accused that the share market is controlled by the foreign investors. He said that the UPA Govt has failed to comply with the recommendations of 3 % fiscal Deficit. Himachal Pradesh has achieved the target of 3 % fiscal deficit during the BJP Govt. The fiscal deficit of the UPA Govt was record high as 4.8 % during 2013-14. This will further increase due to the fast devaluation of the rupee.
The economic policies of the UPA Govt have totally failed to protect the interests of the common man in the country. He appealed to the common man of India to oust the UPA Govt as early as possible so that the new era of growth and development may usher in India.