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PM and Chidambaram have ran out of ideas: Ravi Shankar Prasad

28 Aug 2013 Evaluate

Bharatiya Janata Party (BJP) leader Ravi Shankar Prasad on Wednesday launched a scathing attack on Prime Minister Dr. Manmohan Singh and Finance Minister P. Chidambaram as the rupee touched a new all-time low and breached the Rs. 68 per dollar mark, saying impropriety, corruption and lack of good governance is responsible for the deteriorating condition of the Indian economy. He further said, that the Indian economy is in a critical state and Dr. Manmohan Singh and Chidambaram have ran out of ideas.

On Wednesday, the rupee continued to topple and hit its record low of 68.75 against the U.S. dollar. The Finance Minister P. Chidambaram had earlier on Tuesday suggested a 10-point formula to revive the country's economic situation, and sought co-operation from all quarters despite ideological and political differences

Finance Minister P. Chidambaram said that the fiscal deficit would be contained at 4.8 percent of the GDP even after doling out subsidies for the implementation of the Food Security Bill. The Finance Minister underlined that, production of electronics, textiles must be increased, while, importing of things, which can be made here should be avoided. He further stated that, India could be strong only if it is a strong manufacturing economy.

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