Author: Firstbiz Staff
Publication: Firstbiz.com
Date: April 1, 2014
URL: http://www.firstbiz.com/economy/upa-reaped-nda-sowed-upa-ii-suffered-toxic-harvest-upa-ravi-shankar-prasads-80813.html?utm_source=fbhp_rankedstory

In a point-by-point rebuttal to Finance Minister P Chidambaram's claim that the economy had its best year under the UPA, Bhartiya Janta Party leader Ravi Shankar Prasad today accused the Congress of reaping the benefits of the National Democratic Alliance when the Congress-led UPA ( United Progressive Alliance) came to power in 2004.

In an interview with Times Now, Prasad said, "Today, Chidambaram admitted that 2007-2008 was the UPA's best year for the economy. After that, he blamed the global financial crisis for the economy's woes. But the truth is that UPA I reaped what NDA sowed, and UPA II suffered the toxic harvest of UPA I."

While dismissing Chidambaram's charges of Modi being a crony capitalist, Prasad accused  Chidambaram and the UPA of being the biggest patrons of crony capitalism.

Earlier in the day, Chidambaram had alleged sections of business community are extremely comfortable with Narendra Modi because his "brand of capitalism is crony capitalism".

Taking another jibe at Chidambaram's claims that under the UPA, employment has improved, Prasad said:" If the economy's fundamentals are so poor, manufacturing is down and investment is at an all-time low, how can the UPA claim employment has risen?"

He further said that it is "a pity" that the finance minister  of a country like India is happy with the fact that credit rating agencies not downgrading India.

"India needs an upgrade. And that is not happening due to the price rise situation in India," said Prasad.

In another verbal attack, Prasad said the finance minister's decision to not fight polls was the first confession by the "tottering Congress" that it is not willing to fight.

"If Chidambaram was sure of his hold on Sivaganga, then why did he not contest himself," asked Prasad on Times Now?