Congress chief Randeep Surjewala says PM Modi decided to breach ₹100 to a greenback
Congress chief Randeep Surjewala says PM Modi decided to breach ₹100 to a greenback
The Congress on Thursday hit out on the Narendra Modi government over the “free fall” of the rupee and accused it of being in fixed election mode as a substitute of specializing in financial points.
“The rupee again reached a record low of ₹83 against the dollar, noting that it can prove to be “very dangerous” for India’s economic system. Finance Minister stated that the rupee will not be weakening, the greenback is getting stronger. Mere statements is not going to work, the central government should take concrete steps quickly,” tweeted the Congress president-elect Mallikarjun Kharge.
“Mr. Modi seems determined to breach the ₹100-mark to a U.S. dollar,” added Congress social gathering basic secretary Randeep Surjewala in a separate tweet.
Addressing a press convention, Congress spokesperson Anshul Avijit accused the Modi government of being ‘clueless’ about macroeconomic administration and termed its dealing with of the economic system as ‘inept’.
“This is the proverbial perfect storm — weakening rupee, high levels of inflation, rising unemployment, poverty and hunger. The inept Modi government is clueless about macroeconomic management as this government is always in electioneering mode having no focus or concern on the economic issues. We fear the worst is yet to come,” Mr. Avijit stated.
“The Finance Minister’s outrageous comment that, ‘rupee is not sliding and the dollar is strengthening’, ignores the fact that emerging economies such as Mexico and Brazil have actually strengthened their currencies vis-a-vis USD during this critical period. Further, the US policy regarding the dollar volatility is well encapsulated in former Treasury Secretary John Connally’s famous statement in 1971: ‘The dollar is our currency, but it’s your problem’,” he added.
