BJP worried over fall in IIP, for debate in Parl

The BJP said the fall in industrial production shows that country`s economic scenario is grim and wanted a discussion on the issue in Parliament.

Last Updated: Nov 11, 2011, 22:00 PM IST

New Delhi: The BJP on Friday said the fall in
industrial production, along with dip in other growth indices,
shows that the country`s economic scenario is grim and wanted
a discussion on the issue in Parliament.

"Index of Industrial Production (IIP) has come down to
1.9 per cent in September. Last September (2010) it was 6.1
percent. Industrial growth has come down from April to
September this year," BJP leader Yashwant Sinha told
reporters.

Along with fall in IIP, there has been negative growth in
capital goods production compared to last year while the
manufacturing sector is also not doing well, the Opposition
maintained.

"The overall picture of the economy is gloomy. Inflation
has stubbornly stood at 11.8 per cent... BJP will demand a
separate discussion on the state of the economy of India
during the forthcoming Parliament session," he said.

The former finance minister pointed out that revenue
receipts had fallen "far behind" while the fiscal deficit is
on the rise.

"While our prime minister is busy giving certificates of
good conduct to other heads of state, he is not concerned
about the economy here," Sinha alleged.

He was referring to Prime Minister Manmohan Singh`s
statement yesterday in Maldives on the sidelines of the SAARC
summit where he had called his Pakistan counterpart Yousuf
Raza Gilani a "man of peace".

Sinha said though the BJP is not privy to all the
government figures, the economic situation is grim.

"Investor confidence is down and many of them are fleeing
India," he said.

PTI