Stalling reforms, key bills; creating malicious environment: Veerappa Moily

The NDA is not only stalling the economic reforms but also creating a "malicious" environment against the government, Corporate Affairs Minister Veerappa Moily said today.

"...main opposition political formation... is out to oppose all the reform initiatives and simultaneously create negative canards against the government," Moily said in a statement here.

Blaming the National Democratic Alliance for stalling reforms, he said, "DTC (Direct Tax Code) is with the Parliamentary Standing Committee headed by BJP leader Yashwant Sinha... the Goods and Services Tax Bill is also under consideration of empowered group of state finance ministers, headed by BJP Finance Minister from Bihar Sushil Modi".

On the issue of corruption, Moily said no major cases have surfaced during UPA-II regime. "Inspite of the humongous challenges to deal with civil society, the government worked with them and came out with a strong Lokpal Bill which is pending with Parliament for approval".

While the economy is passing through difficult times due to slow growth, increasing fiscal deficit and high inflation rate,there are "robust" indicators highlighting "very strong" fundamentals. "With sincerity and efforts of the Prime Minister, it will take no time for the economy to bounce back and resurrect itself," he said.

On the TIME magazine describing Prime Minister Manmohan Singh as an "under-achiever", Moily said the article "seems to have completely deviated from objectivity, perhaps got swayed by the malicious environment created by the main opposition party, the BJP during the recent times".

Moily said the economy grew by an average 7.7% in the last 10 years. The country's per capita net national product has nearly doubled. Besides, India's forex reserves have risen nearly six times from $54 billion to nearly $305 billion, he said.