Criticising the petrol price increase and the proposal to limit supply of LPG cylinders, Janata Party president Subramanian Swamy on Friday said the UPA leadership had run out of ideas, and it was time for mid-term elections.

In a press release, he said the UPA government had failed on all fronts: industrial production slumped from 14 per cent to a mere 3 per cent in the past few months; interest rates had gone up, discouraging long-term investment and causing a sharp decline in the capital good industry; and inflation was already in double digit.

“It is clear, therefore, that the UPA government has no time for fresh thinking and the spate of revelations of monumental corruption in every possible department of activity of the government makes it clear that it is futile to expect any improvement in the situation. Therefore, the best solution for the nation now is for mid-term Lok Sabha elections asking the people to give a mandate for a new economic policy to steer the economy away from the precipice,” he said.

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