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Economist Parakala Prabhakar,FM Sitaraman’s husband slams center for economic slow down

Expressing concerns over the economic slowdown, economist and union finance minister Nirmala Sitaramans husband Parakala Prabhakar yesterday slammed the Narendra Modi-led government for its unwillingness to reframe its policies.

Accusing the government to be in a “denial mode”, he said the data flowing uninterruptedly into the public domain shows that sector after sector is staring at a seriously challenging situation. Criticizing the ruling BJP he said the Bharatiya Janata Party is stuck in its system of denying realities and indulging in its own idealistic systems which can be loosely termed as a capitalist free, market framework which is still very far from being practical.

“The rejection of Nehruvian ‘socialistic pattern of society’ was clear since the days of the Bharatiya Jana Sangh,” he said. Prabhakar was attempting to emphasize that BJP, after denying the time tested framework, is reluctant to frame and reframe its own policies to create a practical system.

He added that the Rao-Manmohan system of the economy should be adopted to pull out the economy from the developing recession whirlpool.

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