Claiming that the 'so called economic bubble of the United progressive Allowance government has literally burst', BJP said on Tuesday all economic indicators have 'dramatically' slowed down under 'a paralysed and directionless' regime headed by the Congress.

India today appeared to be on the brink of what might be a protracted recession, BJP president Rajnath Singh told a press conference in Bangalore.

"Be it the share market, high growth rate, booming economic activity in the manufacturing, services or agricultural sectors, all economic indicators have dramatically slowed down, begun to show declining trends and painting a gloomy picture of our economy," he said.

Singh claimed that the country today was going through this 'difficult phase' because of a 'paralysed and directionless' Congress-led United Progressive Alliance government at the Centre.

He alleged the 'pathetic performance' of the coalition has created an 'unprecedented situation of chaos in critical areas of governance'.

"Be it the continuous acts of foreign sponsored terrorism and a vitiated atmosphere of internal security, economic down slide, problems in agricultural sector and farmers suicides, rising unemployment, especially in the unorganised sector, the Congress-led UPA government lacked in both ideas and initiative to find solutions to any problem", he claimed.

The BJP, Singh said, was confident that the people of the country would completely reject the 'directionless' UPA government and elect 'a responsive' National Democratic Alliance government in the coming Lok Sabha elections.

"In the six years of NDA rule, we have displayed to the entire nation that we indeed can solve the problems the country is facing and in L K Advani we have a prime ministerial candidate with the experience to do so," Singh said.

The BJP president said the Congress party has a 'history of coining attractive slogans to befool the public and then doing nothing before coining another slogan to divert the attention of the people from their actual performance'.

"The Garibi Hatao slogan of the 1970s achieved nothing. After coining Indira Lao Desh Bachao, the country in fact plunged into the vortex of terrorism. The Ikkisvi Sadi Ki Oar during the tenure of Rajiv Gandhi needs to be viewed against the backdrop of the massive scandals such as Bofors, HWD submarine scandal," he said.

"Now the much touted Congress Ka Haath Aam Admi ke Sath clearly shows that the Congress has only made illusionary promises and delivered nothing.

"In fact the plight of the touted Aam Admi of the Congress Party is clearly there for all to see. With the Lok Sabha elections round the corner, one should not be surprised if the Congress dumps its Aam Admi plank and coins yet another slogan to confuse another section of society", he said.