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PM aiding US economy bailout: RSS

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Express news service Posted: Oct 06, 2008 at 0109 hrs IST
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Nagpur, October 5: RSS chief K S Sudershan on Sunday alleged that Prime Minister Manmohan Singh has plans to purchase US Treasury bills worth Rs 56,000 crore to help the crumbling US economy at the cost of Indian economy.

“Our soft-hearted PM went to the US to discuss the nuclear deal with President George Bush. But witnessing the dire straits in which the US economy has fallen, he was moved so much that along with the RBI Governor, he immediately worked out and announced a package for injection of Rs 56,000 crore under the Liquidity Adjustment Facility (LAF).

To keep the prices under control, the RBI will issue the Market Stabilisation Scheme bonds of the same value as the amount injected under LAF. Since the PM is disposed to help the American economy in its hour of crisis, the RBI will invest the amount in US Treasury Bills,” claimed Sudershan in his annual Dussehra speech here, which was also attended by BJP president Rajnath Singh.

Sudarshan alleged that India had surrendered its right to conduct nuclear tests.

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“Under the nuclear deal, India will purchase 10 atomic energy reactors of 1,000 MW from US at a cost of up to Rs 47,000 crore. The cost of power production will be Rs 6 per unit and it will be sold at Rs 2.70 to 2.80 per MW, which will be 2.5 times the price at which Reliance will make available its power to be generated at its Madhya Pradesh project,” he said.

Sudershan also accused the Centre of being soft on terror. He claimed that a mufti in Jaipur had said recently that “terrorists should be shot dead, hanged to death or his hands and legs be cut as per Islamic law”. He added: “This determination alone can save the country from terrorism.”

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indian news by ananda daulagala on 2008-10-06 12:11:56.345108+05:30
indian economy
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