Focus on cars that run on hydrogen cell fuel: Swamy
Published: 07th October 2013 11:40 AM | Last Updated: 07th October 2013 11:40 AM | A+A A-
BJP leader and former Union minister Subramanian Swamy on Sunday said that the automobile industry should focus on research and development of cars that run on hydrogen cell based-fuel for the country to escape its dependence on crude oil.
Speaking at a session organised by the Jain International Trade Organisation here, Swamy said that the US was posing stumbling blocks for research into the technology as many of its companies had invested huge amounts in infrastructure for crude oil extraction and refining.
“The US has huge amounts of oil. The oil companies there have also developed huge infrastructure in this sector. Therefore, they do not want other countries to develop alternatives such as hydrogen cell fuels,” he said.
Painting a grim picture of the current status of the economy, Swamy alleged that the slide in the value of the rupee was connected to short selling of the currency by “a son and a son-in-law,” who frequently camp in Singapore and Dubai. “You saw a revival of the rupee the moment I exposed this,” he said. Swamy said that if he became the Finance Minister again, he would like to abolish income tax in the country.
On the recent FDI measures in the aviation sector, Swamy said that it was yet another scam in the making. “I have challenged the nod for the Jet-Etihad deal in the Supreme Court. This is something we cannot allow.”
Executive vice chairman of Ashok Leyland R Seshasayee said that the state of the economy had a lot to do with failure to create public goods and services, which was essential for a robust growth of private goods and services. In this regard, he said the country needed a strong and stable government.