Action against cos is attempt to ruin investment climate: Yashwant Sinha

PTI Posted online: Saturday, Dec 07, 2013 at 0000 hrs
Mumbai : Senior BJP leader Yashwant Sinha today alleged that recent actions against some big corporates is a part of attempts by government to "completely ruin" the investment climate in the country.

"I see this as a gross attempt on the part of the government to completely ruin the investment atmosphere in the country," he told of reporters here when asked about how he sees actions against some big corporates and top honchos.

"If any big or small company is convinced that the only way in which a work can be done at the government is by corrupt means, then they have no choice," Sinha, who was Finance Minister in the BJP-led NDA regime, said.

Sinha claimed that none of the NDA ministers or senior bureaucrats had to go to jail because of corruption, unlike the incumbent UPA government.

Seeking to diagnose problems ailing the economy, Sinha blamed alleged bifurcation of powers between Prime Minister Manmohan Singh and UPA Chairperson Sonia Gandhi as the root of the current logjam.

"The fault-line was created in 2004, when we divorced the PM's post from the political leadership. The PM is not the Cabinet Secretary of the government," he said.

"The Constitution expects the PM to be the leader of his party as well as the leader of the nation. Due to this division, we laid the seeds of irresponsibility. We have power on one hand without accountability and we have accountability without power," Sinha said.

He stressed that his party's PM candidate Narendra Modi is striking a resonance with masses because of expectations that he will be a decision maker.

"The manner in which the stock market behaved and even the foreign exchange market, after the exit polls, is an indication of the fact how things will change dramatically as a result of a non-UPA win in the next elections," Sinha said.