New Delhi: Former Finance Minister P. Chidambaram today went on to say that the BJP government’s “administrative incompetence” and “policy blunders” were the reason behind for the rising farm distress, unemployment and failure of economy.
“Farmers’ despondency has turned into anger and they have come to streets to protest,” the senior Congress leader told reporters here.
“The principal reasons are uneconomic price for farm produce and stagnant wages of farm labour. MSP (Minimum Support Price) is not adequate. Every farmer knows that the promise of MSP = Cost + 50 per cent is a ‘jumla’,” he said.
Chidambaram said the Reserve Bank of India’s confidence survey stated that 48 per cent felt that the economic situation of the country had worsened in the last 12 months.
He said unemployment was rampant in the country, which was “far cry” from the Bharatiya Janata Party’s promised two crore jobs a year.