"It is atrocious on the part of the Finance Minister to criticize the Opposition party on the foreign soil that too contrary to the facts. It is the Congress' ‘blood sucking’ economic model that pushed the country backwards. (Agencies)
"Mr Finance Minister (who spoke at WEF, Davos), let me remind you that it is your party which ruled the country for most of the time after independence. Because of your blood sucking policies, the poor have become poorer and rich the richer," he said in a statement in Hyderabad.
Alleging that the Indian economy has crippled during the stewardship of economists like Manmohan Singh and P Chidambaram, Naidu said that all economic indicators point to a poor show.
"The fiscal and current account deficits are almost as bad as 1991. The rate of growth is lowest in a decade. Fiscal deficit was 2.5 percent in 2007-08 and is now at 5.2 percent and likely to be brought down to 4.8 percent next year.
"The economic slump under the UPA was less about global meltdown and more about complete absence of leadership, dual power centers, bankruptcy of ideas, lack of vision, disastrous policies and inherent corruption," he said.
UPA had inherited a ‘robust’ economy from the NDA regime, but mismanagement has taken the country backwards and ruined the economy, the BJP leader charged.
"Yourself while presenting UPA's first budget in July 2004, accepted that the economic fundamentals appear strong and the balance of payments is robust."
"Who brought nation's economy to such a pass? Please note that NDA started with 4 percent, took the country to 8 plus percent growth when you inherited it. Please also note that you brought it back to almost 4 percent, thereby taking the country many decades backward.
"UPA ruined economy by swallowing tax-payer's money into scams and scandals," the former BJP president said.
"It is atrocious on the part of the Finance Minister to criticize the Opposition party on the foreign soil that too contrary to the facts. It is the Congress' ‘blood sucking’ economic model that pushed the country backwards.