Congress tears into Centre for falling value of rupee

Says government led by Narendra Modi is directionless
Congress tears into Centre for falling value of rupee

New Delhi: The Congress on Friday tore into Central Government led by Prime Minister Narendra Modi for the rupee touching Rs 80 mark against the dollar. The party said that the government is directionless and silent on the free fall of the Indian currency, which will hit the common man. It said, “Modi is harmful for the rupee.”

The party recalled Modi’s own words as Gujarat chief minister. He attacked the UPA government saying, “The prestige of 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 said she wanted to know from the Prime Minister what would be his statement because the value of rupee is falling every day.  At a press conference, she said, “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?”

“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 asked.

Noting that the value of the rupee was only Rs 58 against a US dollar in 2014, she said in the last eight years it first breached the age of retirement and then went to the ‘Marg Darshak Mandal’ and has now crossed Rs 80 – a fall of Rs 22 against a dollar in eight years.

“Mr Modi think about your eroding dignity and credibility - your words not ours,” she said. Quoting Modi she said while attacking the UPA government, he had stated 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 said, quoting Modi.

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“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 leader asked.  Congress general secretary Priyanka Gandhi Vadra also hit out at the government, saying as the rupee is falling and unemployment rising, it is coming out with list of words through which it can 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 said in a tweet in Hindi.

“May be the FM will now claim she doesn’t use the rupee either,” she asked.

Shrinate claimed that from January till today, the RBI has tried to strengthen the rupee by spending about USD 40 billion and asked why has it failed, “Because investors do not have even the slightest faith in the policies of the government,” she said.

“It is a huge-huge breach of the rupee. It is making life tough for the children who study overseas. It is making life tough for our domestic audience, our domestic Industries. It is going to make life tough for every Indian because it is going to raise prices further. So first admit that the rupee is in a free fall. Look for the reasons, why this is happening,” she said.