"There are several contributing reasons to politicians losing their respect...Politicians are not seen as agents of change...They are now seen as different kinds of agents," Sharma told reporters when asked why politicians are losing respect.
He was addressing a 'Meet the Press' programme.
When asked to comment on Birender's remark, the Assembly Speaker said that he was already saying that there was degeneration in political values.
"Birender used these words (politics is the best business in India)...I am already saying that there is degeneration in political values. But I do not approve of the language used...Birender is a senior leader and I do not want to comment on it," he said.
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Pointing out at the magnitude of degeneration in political class, he said people in 'Kurta Pajama' are now considered property dealers.
"When I was young, people used to respect those who wore Kurta Pajama as people thought that he is doing a good job, he is contributing to the society.
Expressing disappointment over degeneration in political system, Sharma said that faith of people in the political system was eroding.
"Degeneration is taking place in democratic system. This is an alarming situation and faith of people in democratic system is eroding. People think MLAs come to the Assembly and walk out with what they get and no business is transacted," he said.