Highlighting the policy defaults during the second term of UPA-II government, he said, "During the last three-four years, there is a lack of trust among the industries. We ended up not defending our own policies...This was despite the fact that there were implementation issues." "We should have been bold enough to say a spade a spade. The net result is, we have lost a couple of years and it has cascading effect." He indicated the losing of direction in policy front has proved expensive for UPA and also the country in the last few years.