Bangalore:  BJP today flayed reported moves by the government to effect steep cuts in funds for social sector schemes and budgetary support for six flagship programmes, saying the Prime Minister and Finance Minister should “come out of the slumber” and think out of the box.

The Union Finance Ministry was reportedly trying to cut funds for social sector schemes to keep the fiscal deficit within the targeted 4.8 per cent and also six flagship programmes meant for employment, health, water, housing, electrification and developing rural roads, senior BJP leader M Venkaiah Naidu told reporters here.

He said the budgetary allocations themselves for the current year were meagre and either they were reduced or stagnant but the government wants to cut them further.

The retail inflation had touched the double digit at 10.09 per cent, private investments had dried up and the fiscal and current account deficits were almost as bad as in 1991, when India faced severe economic crisis, he said.

Indian investors were running away and global investors afraid to invest and there was unprecedented corruption in every major decision of the government, he said, adding,”Now you are planning to impose cuts in public expenditure as well. Where is the country being taken to? The country needs answers.”

“Prime Minister and Finance Minister should come out of the slumber and think out of the box solutions,” Naidu said.

With ever increasing inflation breaking the backbone of “aam admi”, the proposed cut would affect growth and hit welfare of the commonman. “People will not excuse you. They are just waiting to teach you a befitting lesson,” he said.

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