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Aug 28, 2013 at 01:11pm IST

Economic crisis: BJP asks UPA to quit, Left says government is useless

New Delhi: As the rupee and markets continue to be in a downward spiral and other economic indicators also not looking rosy, the Opposition has taken on the Congress-led United Progressive Alliance Government and demanded that it should step down immediately and call for fresh elections to end the policy paralysis.

While the Bharatiya Janata Party (BJP) said that the UPA government was watching helplessly as the economy went through a turbulent phase, Left parties blamed it of noting taking any steps.

"The rupee is in a free fall, the markets are in a free fall. The only thing that will stabilise the rupee and the markets is that the government resigns and we go for elections and a new government is formed. This is not out of politics that I am saying it," said BJP leader Yashwant Sinha.

His party colleague Ravi Shankar Prasad accused the government of running out of ideas and also asked it to take a look at the growth rate of BJP-ruled states. "The Indian economy is in a critical state. Prime Minister Manmohan Singh and Finance Minister P Chidambaram have run out of ideas. Why is that at the same time the government in states of Gujarat, Madhya Pradesh, Chattisgarh and Goa have more that 10 per cent growth rate. It is because of good governance," he said.

Communist Party of India (Marxist) leader Sitaram Yechury called the present economic situation much worse than the 1991 case. "The rich are parking their money either in gold, or in real estate or in foreign exchange. It is a worse crisis than 1991."

Communist Party of India (CPI) leader Gurudas Dasgupta, too, did not sound very optimistic about the economy. "The rupee value will fall further. The government is useless. The government should think of the solution, the way out. We are heading for economic emergency and the government is not doing anything," he added.