Congress leader Randeep Surjewala says PM Modi decided to violate ₹100 to one dollar
Congress leader Randeep Surjewala says PM Modi decided to violate ₹100 to one dollar
Congress fiercely targeted the Narendra Modi government on Thursday “free fall” of the rupee And accused him of constantly being in election mode instead of focusing on economic issues.
“Rupee again hits record low of ₹83 against dollar, noting that it could prove to be “very dangerous” for India’s economy. It is happening. Mere rhetoric will not work, the central government will have to take concrete steps soon.” Elected Congress President Mallikarjun Kharge,
“Mr. Congress Party General Secretary Randeep Surjewala said in a separate tweet, “Modi is determined to break the 100 mark of a US dollar.”
Addressing a press conference, Congress spokesperson Anshul Avijit accused the Modi government of being “ignorant” about macroeconomic management and termed the handling of the economy as “inept”.
“This saying is the perfect storm – weak rupee, high level of inflation, rising unemployment, poverty and hunger. Inept Modi government is ignorant about macroeconomic management as this government is always in election mode and has no focus or concern on economic issues. We fear that the worst is yet to come,” said Mr. Avijit.
“The derogatory remark of the Finance Minister that ‘the rupee is not slipping and the dollar is strengthening’ ignores the fact that emerging economies such as Mexico and Brazil have actually exchanged their currencies against the US dollar during this critical period. Furthermore, US policy regarding dollar volatility is well explained in former Treasury Secretary John Connelly’s famous statement in 1971: ‘The dollar is our currency, but it is your problem,'” he said.