Modi slams UPA for economic slowdown - NewsX

Gujarat CM Narendra Modi seized upon the opportunity of the slowest GDP growth in nine years, slamming UPA for slowdown and accusing it for "policy paralysis" and "lack of direction" that has hit the economy hard. "The Prime Minister had boasted of 7% growth at the Pravasi Bhartiya Divas function in Jaipur a few months ago. He reiterated the same in the Rajya Sabha in March," Modi said. "But the Centre did not have any inkling of the upcoming problems. It only got to know yesterday how steep the fall was," Gujarat CM said, when asked to comment on GDP growth slipping to 6.5% in 2011-12, which is the worst in nine years. Gujarat CM said the effects of slow growth rate would be felt over a long period. "There is a fall in the GDP. The rupee has weakened. Inflation is on the rise. These are the three indicators that show that the entire economy is in a shambles," he added.