Policy paralysis led to S & P downgrading: BJP

BJP on Wednesday alleged that policy paralysis within UPA government, lack of decision-making powers with Prime Minister Manmohan Singh and arrogance of this regime has led to this state of affairs.

New Delhi: In a sharp reaction to the downgrading of India`s credit outlook by Standards and Poor, BJP on Wednesday alleged that policy paralysis within UPA government, lack of decision-making powers with Prime Minister Manmohan Singh and arrogance of this regime has led to this state of affairs.

"The possibility of India being downgraded as an economy from stable to negative is extremely disturbing. The consequences for the Indian economy are very grave. Investor confidence in India could decline further. International borrowings will become costlier," Leader of the Opposition in Rajya Sabha Arun Jaitley said.

New Delhi: In a sharp reaction to the downgrading of India`s credit outlook by Standards and Poor, BJP on Wednesday alleged that policy paralysis within UPA government, lack of decision-making powers with Prime Minister Manmohan Singh and arrogance of this regime has led to this state of affairs.

"The possibility of India being downgraded as an economy from stable to negative is extremely disturbing. The consequences for the Indian economy are very grave. Investor confidence in India could decline further. International borrowings will become costlier," Leader of the Opposition in Rajya Sabha Arun Jaitley said.

PTI