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Economy Aug 31, 2012

BJP stand will affect investor confidence: Sibal

New Delhi: The government today said incidents such as stalling of Parliament by BJP would dent investors confidence and affect growth which has slowed down to 5.5 percent in the first quarter of the current fiscal.

"When you raise every issue like this, the confidence of those coming from outside to invest is stopped, industrialists here will stop investment. Will the BJP governments and the BJP invest money," Telecom Minister Kapil Sibal said when asked to comment on the latest growth figures.

Telecom Minister Kapil Sibal. Image courtesy PIB

Sibal said he wanted to know from the BJP whether they can run the country without growth.

Official data released today showed the economy grew by 5.5 percent in the first quarter of the current fiscal as against 8 percent during the same period of previous fiscal.

"When we try to end all the industry, then how will growth rate increase. This should be concern of all political parties. Unless we reach 8-9 percent growth rate, the facilities we want to give to the common man cannot be given," he said.

"Will stoppage of legislative work help growth? People should not be 100 percent selfish in politics. They should sometimes think of nation first and leave aside their political hunger," Sibal said.

Sibal said BJP should not politicise the issue of coal block allocations as the country was facing challenges.

He said the opposition should allow discussion on coal block allocations and a decision on any probe can be taken later.

"But first let there be a discussion and let facts be made clear. You are not a judge to decide. Same happens in courts also. They want the PM to resign and then there will be debate. The day PM resigns, the Parliament would be dissolved, Which debate are they talking about. They know this cannot
happen," he said.

On SP chief Mulayam Singh Yadav's demand for a probe by a sitting Supreme Court judge, Sibal said there had to be first a discussion on the subject.

"Once that (discussion) happens then only we will come to know that SC judge should inquire against whom," he said.

"It is most unfortunate and unacceptable in a democracy. I am surprised that one of the BJP leaders was saying that they were ready for 'magnificent isolation'," Sibal said on repeated stalling of Parliament by the Opposition.

"What we see today is that all other parties want a debate in Parliament and the BJP is splendidly isolated," he said.

PTI


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