BJP likens Chidambaram to an 'incompetent doctor'

Opposition leader and former Finance Minister Yaswant Sinha today spoke in the Parliament amidst concerns surrounding the free-falling rupee which breached 66 against the dollar on Tuesday.

Here are the highlights:

• If you run a large fiscal deficit then it will have an affect on inflation
• With high prices, interest rates will rise; it's a vicious cycle
• A large fiscal deficit will spill over to current account deficit
• In 1995 current account deficit was 2.5 per cent of GDP, last year it was 5 per cent
• By the end of the current fiscal experts are saying if we can't bring $25 billion there will be a balance of payments
• The rupee value is determined by the market, but the government and the RBI have a responsibility to control the volatility in the currency
• Such volatility is not good for our economy
• Consumer price index (CPI) has been over 10 per cent since 2008
• The consumption expenditure was raised by the government with an eye on the 2009 elections
• The government has been blaming RBI's policies, but what can the RBI do?
• The government has now put restriction on flat TVs, similarly they have put restrictions on investments abroad also.
• Paralysis of decision making is the problem
• American economy is recovering and we are crying that their recovery is affecting us adversely. Earlier when their economy was suffering, the government said, the Indian economy is affected by that
• The government is a like an incompetent doctor who doesn't tell the patient of the possible side effects of his medication
• I had once said to this government here in Parliament itself  that it's time for them to go, main reason being they have lost control of the economy
• They have toyed around with the economy which started five years back. The whole country is suffering because of this. We don't want this government anymore
• Let's go to the public and let them decide, whether this government should do
• Such a corrupt, incomptent government has never been there