Principal political parties of the country — Congress and the BJP — on Wednesday took turns to hit out at each other at an industry function.
While the Congress lashed out at the Opposition for “sensationalising corruption issues”, the BJP charged UPA government of “squandering the chance and let go of the advantage of high growth rate left by NDA in 2004.”
In his inaugural address at the CII’s annual session, Commerce and Industry Minister Anand Sharma said the government has been taking corrective actions to deal with “aberrations.”
“We have had corporate and bank frauds in all rich countries. It is a long list, we also have our list beginning Satyam, the chit funds...or the latest in this role is the Sahara issue,” Sharma pointed out.
“Question is do we have accountability, has the system ensured accountability. The answer is yes. Aberration do takes place, corrections are also invoked. That is what India has done,” Sharma said.
He said people were talking about crony capitalism and they have sensationalised in a manner that all the economic activities are part of that.
“I am rejecting that, this is not true. This perception must not be sustained. Yes, there are issues which happen in other countries too...,” he added.
Speaking at the same function BJP leader Ravishankar Prasad said, “When NDA came to power the growth rate was around 4.8 per cent but when it demitted office it was 8.5 per cent.
“That was the base on which the subsequent government came about. I am willing to say initially development was there but how the entire opportunity was squandered away,” he reiterated.
The BJP has raised the issue of corruption and scams in sectors including telecom and coal alleging that the country’s economic growth was severely impeded due to these scams.
On Tuesday, Aam Aadmi Party leader Arvind Kejriwal raised the issue of crony capitalism, and accused both BJP and the Congress of favouring big industrial houses.
Sharma said that it is very tempting and trendy now a days to term any initiative as a scam. “My understanding of the English word (scam) is different. There could be some mistakes... other countries have also faced similar situation. Has India put in place the regulatory framework. Is it adequate that is the question,” he added.