BJP trains gun on FM over economy

 Sat, Oct 25 02:59 AM

Pointing to the bleak economic outlook, the BJP on Friday brought the UPA government and finance minister P Chidambaram in the firing line, demanding his resignation for his inability to handle the situation and instil confidence in the people and industry. “This is a crisis of confidence,” former finance minister Yashwant Sinha told reporters, addressing a special briefing in which he charged the Manmohan Singh government of failure bring stability into the system.

“Since March we have lost $38 billion of foreign exchange. It is a matter of great concern,” Sinha said, adding that today’s RBI move not to make any changes in the credit policy had only worsened the situation.

“Even when the Rupee has touched Rs 50 to the dollar and the share market is more than 1000 points down, the government and regulators are not doing anything to bring calm,” he said.