The former Bharatiya Janata Party national president, Rajnath Singh, has said the economic mismanagement by the UPA Government was the reason for the spiralling prices of essential commodities.

Addressing presspersons here on Saturday, Mr. Rajnath Singh said the UPA Government had lost its grip on the Indian economy and the common man was forced to face hardships.

He said that despite an increase of over 400 per cent in the oil prices during the NDA regime, the average rate of inflation was below 5 per cent, whereas the average rate of inflation during the UPA regime was close to 7 per cent. Now, despite the growth rate being more, the prices of essential commodities were skyrocketing, he said.

He said the recent hike in petroleum prices had dealt a deadly blow to the common man.

“It seems the UPA Government is worried more about the profit of the petroleum companies than the common man,” he said.

Mr. Rajnath Singh said, “Centre should explain what steps it has taken to neutralise the price rise as it claims to have identified the reasons behind the skyrocketing prices of commodities.”

He said he would urge the UPA Government to constitute a ‘National Price Stabilisation Fund' to check spiralling prices.