Manmohan warns of BoP crisis

NEW DELHI, Jan 17: Former finance minister Manmohan Singh today warned that India could face a serious balance of payment crisis in the wake of the gloomy economic scenario resulting from a “crisis of governance”.

He accused Vajpayee government of not being serious about tackling "financial and fiscal problems in right earnest." in an interview. Criticising the government as being “arbitrary” in decision making, particularly economic, the leader of the opposition in the Rajya Sabha said its management of the fallout of nuclear tests on the economy and fanning of communal passion by groups close to ruling party was sending wrong signals to the world.