By PTI
NEW DELHI: With the rupee virtually touching the Rs 80-mark towards the US greenback, the Congress on Friday launched a fierce assault on the federal government alleging that it’s directionless and silent on the free fall of the foreign money as it is going to have an effect on each Indian.
The get together additionally focused Prime Minister Narendra Modi saying he’s “harmful for the rupee” and recalled his personal phrases as Gujarat chief minister, when he attacked the UPA authorities saying “the prestige of the PM is attached to the falling rupee and the lower it falls, the more credibility and dignity of the prime minister is eroded”.
Congress spokesperson Supriya Shrinate questioned what the prime minister would say on his personal statements now when the Indian foreign money is falling to new lows.
“The government, as always, seems directionless. Modi is toxic and harmful for the rupee. What is the government doing to address high inflation and it is a vicious cycle,” she alleged at a press convention.
“Before 2014 Mr Modi falsely claimed that a ‘strong PM’ is necessary for the strengthening of the rupee has proven to be most toxic and harmful for the currency. This so-called strong PM made the rupee weakest in history. Rupee has depreciated more than 7 per cent in the last six months. But for how long will the prime minister keep hiding behind the war of corona, Russia and Ukraine,” she requested.
Noting that the worth of the rupee was solely Rs 58 towards a US greenback in 2014, she stated within the final eight years it first breached the age of retirement after which went to the “Marg Darshak Mandal” and has now crossed Rs 80 – a fall of Rs 22 towards a greenback in eight years.
ALSO READ | Rupee at life-time low to hit imports, abroad schooling, journey
“Mr Modi think about your eroding dignity and credibility – your words not ours,” she stated.
Quoting Modi she stated whereas attacking the UPA authorities, he had acknowledged that “The currency of a country falls where the govt is immoral and corrupt.”
“I sometimes wonder there is a race between the central govt and the falling rupee. Who will stoop lower? The prestige of the PM is attached to the falling rupee. The lower it falls, the more credibility and dignity of the prime minister is eroded,” Shrinate stated quoting Modi.
“These are not our words. These are the colossal Jumlas of candidate Modi pre-2014. I wonder what he has to say on his own statements today,” the Congress chief requested.
Congress basic secretary Priyanka Gandhi Vadra additionally hit out on the authorities, saying whereas the rupee is falling and unemployment rising it’s popping out with checklist of phrases by way of which it may be questioned.
“The rupee is falling against the dollar. Employment is declining. The income of people of the country is decreasing. But, the list of words/programs/methods is increasing in the Prime Minister’s Office, through which you can question or protest against all this,” Vadra stated in a tweet in Hindi.
Shrinate stated, “PM Modi and his ‘army of sycophants’ who used to talk big on the rupee, are now conspicuously silent as the rupee breaches the 80 to a US dollar mark. But this pin drop silence will not be accepted.”
She stated the most important motive for this “free fall of the rupee is the failed economy and unbridled inflation”.
The Congress chief stated “thanks to Modi ji’s economic mismanagement and failure to control the ruined Indian economy”, the Indian Rupee has crossed Rs 80 towards the US greenback mark.
This is identical rupee that Modi himself used to say to be related to the Prime Minister’s status, she stated, including that the suspicion aroused by the “free fall” of the rupee is whether or not PM Modi is making ready to hit a century with our foreign money too identical to he has carried out with petrol.
Claiming that Congress had strengthened the Rupee in 2013 when it was in energy, she stated the autumn within the worth of the foreign money will result in improve in backbreaking inflation and costs of important commodities like petrol, diesel, cooking gasoline will improve additional.
Due to the price of oil, the price of motion – practice, bus fare will improve, he claimed, including that its direct impact will even be seen in your plate as effectively because the costs of cooking oil will improve.
TV, fridge, cell phones will even be costlier as a result of falling rupee, she stated.
“May be the FM will now claim she doesn’t use the rupee either,” she requested.
Shrinate claimed that from January until at present, the RBI has tried to strengthen the rupee by spending about USD 40 billion and requested why has it failed “Because investors do not have even the slightest faith in the policies of the government,” she stated.
Shrinate stated the primary and speedy step that needs to be taken by the federal government is to just accept that the rupee is in a free fall and to get up and odor the espresso.
It is a huge-huge breach of the rupee. It is making life robust for the youngsters who research abroad. It is making life robust for our home viewers, our home Industries. It goes to make life robust for each Indian as a result of it’ll increase costs additional. So first admit that the rupee is in a free fall. Look for the explanations, why that is taking place,” she stated.
Alleging that prima facie, excessive inflation and a “ruined economy” is likely one of the causes, she requested “what is the government doing to address high inflation and it is a vicious cycle. The cost of the rupee, the higher the inflation rate, feeds into the rupee, breaching and stooping even lower.”
NEW DELHI: With the rupee virtually touching the Rs 80-mark towards the US greenback, the Congress on Friday launched a fierce assault on the federal government alleging that it’s directionless and silent on the free fall of the foreign money as it is going to have an effect on each Indian.
The get together additionally focused Prime Minister Narendra Modi saying he’s “harmful for the rupee” and recalled his personal phrases as Gujarat chief minister, when he attacked the UPA authorities saying “the prestige of the PM is attached to the falling rupee and the lower it falls, the more credibility and dignity of the prime minister is eroded”.
Congress spokesperson Supriya Shrinate questioned what the prime minister would say on his personal statements now when the Indian foreign money is falling to new lows.
“The government, as always, seems directionless. Modi is toxic and harmful for the rupee. What is the government doing to address high inflation and it is a vicious cycle,” she alleged at a press convention.
“Before 2014 Mr Modi falsely claimed that a ‘strong PM’ is necessary for the strengthening of the rupee has proven to be most toxic and harmful for the currency. This so-called strong PM made the rupee weakest in history. Rupee has depreciated more than 7 per cent in the last six months. But for how long will the prime minister keep hiding behind the war of corona, Russia and Ukraine,” she requested.
Noting that the worth of the rupee was solely Rs 58 towards a US greenback in 2014, she stated within the final eight years it first breached the age of retirement after which went to the “Marg Darshak Mandal” and has now crossed Rs 80 – a fall of Rs 22 towards a greenback in eight years.
ALSO READ | Rupee at life-time low to hit imports, abroad schooling, journey
“Mr Modi think about your eroding dignity and credibility – your words not ours,” she stated.
Quoting Modi she stated whereas attacking the UPA authorities, he had acknowledged that “The currency of a country falls where the govt is immoral and corrupt.”
“I sometimes wonder there is a race between the central govt and the falling rupee. Who will stoop lower? The prestige of the PM is attached to the falling rupee. The lower it falls, the more credibility and dignity of the prime minister is eroded,” Shrinate stated quoting Modi.
“These are not our words. These are the colossal Jumlas of candidate Modi pre-2014. I wonder what he has to say on his own statements today,” the Congress chief requested.
Congress basic secretary Priyanka Gandhi Vadra additionally hit out on the authorities, saying whereas the rupee is falling and unemployment rising it’s popping out with checklist of phrases by way of which it may be questioned.
“The rupee is falling against the dollar. Employment is declining. The income of people of the country is decreasing. But, the list of words/programs/methods is increasing in the Prime Minister’s Office, through which you can question or protest against all this,” Vadra stated in a tweet in Hindi.
Shrinate stated, “PM Modi and his ‘army of sycophants’ who used to talk big on the rupee, are now conspicuously silent as the rupee breaches the 80 to a US dollar mark. But this pin drop silence will not be accepted.”
She stated the most important motive for this “free fall of the rupee is the failed economy and unbridled inflation”.
The Congress chief stated “thanks to Modi ji’s economic mismanagement and failure to control the ruined Indian economy”, the Indian Rupee has crossed Rs 80 towards the US greenback mark.
This is identical rupee that Modi himself used to say to be related to the Prime Minister’s status, she stated, including that the suspicion aroused by the “free fall” of the rupee is whether or not PM Modi is making ready to hit a century with our foreign money too identical to he has carried out with petrol.
Claiming that Congress had strengthened the Rupee in 2013 when it was in energy, she stated the autumn within the worth of the foreign money will result in improve in backbreaking inflation and costs of important commodities like petrol, diesel, cooking gasoline will improve additional.
Due to the price of oil, the price of motion – practice, bus fare will improve, he claimed, including that its direct impact will even be seen in your plate as effectively because the costs of cooking oil will improve.
TV, fridge, cell phones will even be costlier as a result of falling rupee, she stated.
“May be the FM will now claim she doesn’t use the rupee either,” she requested.
Shrinate claimed that from January until at present, the RBI has tried to strengthen the rupee by spending about USD 40 billion and requested why has it failed “Because investors do not have even the slightest faith in the policies of the government,” she stated.
Shrinate stated the primary and speedy step that needs to be taken by the federal government is to just accept that the rupee is in a free fall and to get up and odor the espresso.
It is a huge-huge breach of the rupee. It is making life robust for the youngsters who research abroad. It is making life robust for our home viewers, our home Industries. It goes to make life robust for each Indian as a result of it’ll increase costs additional. So first admit that the rupee is in a free fall. Look for the explanations, why that is taking place,” she stated.
Alleging that prima facie, excessive inflation and a “ruined economy” is likely one of the causes, she requested “what is the government doing to address high inflation and it is a vicious cycle. The cost of the rupee, the higher the inflation rate, feeds into the rupee, breaching and stooping even lower.”