‘After petrol, it is Rupee’s turn to breach the 100-mark’
New Delhi: After Rupee plummeted to an all-time low against the US Dollar, the Congress on Monday attacked the government, saying that it is now time for the rupee to march towards the 100-mark. Congress leader Rahul Gandhi said, “Rupee has fallen to an all-time low to 77.4 to a Dollar. The Prime Minister has […]
New Delhi: After Rupee plummeted to an all-time low against the US Dollar, the Congress on Monday attacked the government, saying that it is now time for the rupee to march towards the 100-mark.
Congress leader Rahul Gandhi said, “Rupee has fallen to an all-time low to 77.4 to a Dollar. The Prime Minister has already achieved his target of 100+ in petrol and diesel, and of 1,000 in LPG. Now it’s the Rupee’s turn to march towards 100.”
He alleged that India is in the middle of a huge economic crisis, which will worsen further and turn into something that Indians never witnessed before.
“The PM cannot keep the economic and social realities of India hidden forever. It is time he acknowledges the situation and starts working towards solutions instead of just offering PR distractions,” Rahul Gandhi added.
Congress General Secretary Randeep Surjewala said it is unprecedented that the Indian rupee has fallen to an abysmal low of Rs 77.41 to a dollar.
“Never has this happened in 75 years. Under the Modi government, Indian rupee is in ICU. What are the reasons for it,” he asked.
Surjewala said there are apparent reasons for the inflation: “As life has become unbearable and expensive, whether it is petrol or diesel or cooking gas or CNG or even eatables, everything has gone beyond the reach of the common man.’
He alleged that there is immeasurable flight of capital from India and the reasons behind that are the BJP-sponsored communal tensions triggered across India, rampant corruption in BJP-ruled states, the insurmountable debt of government of India and the states because of which the confidence of the investors has gone down and the cost of doing business in India has gone up.
Another more important reason and a matter of concern is the depletion of foreign exchange reserves.
“The foreign exchange reserves in just a fortnight have gone down from $604 billion to $536 billion. In one fortnight, the foreign exchange reserves have depleted by nearly $31 billion. How will the economy of the country sustain itself when the government is sponsoring communal divide, polarisation and tension, and atmosphere of hate? Why should anybody invest here,” Surjewala asked.
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