Rupee in ICU, Congress hits out at govt | Latest News India - Hindustan Times
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Rupee in ICU, Congress hits out at govt

BySnehashish Roy
May 09, 2022 03:12 PM IST

It blamed inflation, immeasurable flight of the capital, and depletion of foreign exchange reserves for the situation

New Delhi: The Opposition Congress on Monday hit out at the government while holding it responsible for the rupee hitting an all-time low as it tumbled to 77.46 against the US dollar.

The Congress staged a protest against the hike in LPG prices in Hyderabad on Monday. (PTI)
The Congress staged a protest against the hike in LPG prices in Hyderabad on Monday. (PTI)

“Indian rupee is in ICU [intensive care unit] under [Prime Minister Narendra] Modi government. In an unprecedented fashion, the Indian rupee has fallen to an abysmal low of 77.41 to a dollar. Never has this happened in 75 years,” said Congress leader Randeep Singh Surjewala. He added the rupee has fallen beyond the age of the Prime Minister.

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Surjewala blamed inflation, immeasurable flight of the capital, and depletion of foreign exchange reserves for the situation. “Life has become unbearable and expensive, whether it is petrol, diesel, cooking gas, CNG, PNG, or eatables. Everything has gone beyond the reach of common people.”

Surjewala blamed the ruling “Bharatiya Janata Party-sponsored (BJP)” communal tensions across India, “rampant corruption” in the states it rules and insurmountable debt, increased cost of doing business for the flight of capital.

He said foreign exchange reserves have sunk over a fortnight. “How will the economy of the country sustain itself when the government is sponsoring communal divide, polarisation, tension, and an atmosphere of fear and hate?”

He said investors are finding it difficult to invest in the country, which is leading to the flight of capital, depletion of foreign exchange reserves, and soaring inflation. Surjewala said the BJP’s politics of hatred and religious division has razed the Indian economy.

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