No Indian firm among world's top 100 firms due to Centre's corrupt economic policies: Akhilesh

Samajwadi Party president Akhilesh Yadav on Wednesday launched a sharp attack on the BJP-led Centre, alleging that its ''corrupt economic policies'' and ''commission-driven governance'' have pushed India towards economic distress and weakened domestic companies.

In a post on microblogging site X, Yadav claimed that no Indian firm now remained in the list of the world's top 100 companies, and the BJP government's policies were to blame.

''No Indian firm remains in the list of the world's 100 biggest companies. This is the adverse impact of the BJP's corrupt economic policies,'' he said in the post in Hindi.

''Commission-oriented politics'', he said, had weakened companies across sectors, adversely affecting agricultural and industrial production from raw materials to finished goods.

Sectors including stock and bullion markets, banking, insurance, marketing, management, IT-software, transportation, MSMEs, FMCG, textiles, healthcare, lifestyle, communication, trading and services were ''standing on the verge of ruin'', he said.

Yadav accused the BJP government of favouring foreign companies and pursuing ''secret commission arrangements'', badly affecting small traders and shopkeepers.

''Small shopkeepers have suffered because of the dominance of foreign companies and their secret plans to give lump-sum commissions to the BJP,'' he alleged.

Referring to the rise of online businesses, Yadav said e-commerce growth has intensified due to the Centre's ''wrong policies''.

''Commission-based corruption'' led to a rise in inflation, which in turn led to a fall in market demand and triggered an economic slowdown.

''This reduced production caused layoffs and gave rise to unemployment, which has risen sharply over the last 10 years, turning completely uncontrollable,'' he said.

The Centre has failed to provide adequate government jobs, and the overall economy has ''collapsed'', he claimed, adding that the rupee was continuously weakening against the US dollar.

Exports too have suffered, he further said, ''There is not enough foreign exchange left for imports.''.

The Samajwadi Party president further said gas shortage and rising petrol and diesel prices have made goods and services expensive, while ''GST corruption'' has worsened the situation.

Criticising the ruling dispensation, Yadav said the BJP government was ''lecturing others about restraint'' while ''leaving for foreign visits''.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)