Opposition slams Modi govt over Indian rupee’s historic fall
New Delhi: The Indian rupee plummeted to an all-time low of INR 86.59 against the U.S. dollar, prompting fierce criticism from Opposition leaders who accused the Narendra Modi-led government of economic mismanagement and incompetence.
According to Kashmir Media Service, Congress general secretary Jairam Ramesh, in a scathing post on X, highlighted the rupee’s decline since Modi took office in 2014. “When Mr. Modi became PM, the rupee was at INR 58.58 to the dollar. He mocked his predecessor, linking the rupee’s value to the PM’s age. Now, as he approaches 75, the rupee is past INR 86. Who’s accountable for this collapse?” Ramesh quipped.
CPI general secretary D. Raja expressed concern over India’s mounting foreign debt, exceeding INR 200 lakh crore, and questioned the government’s promises of economic growth. “Mr. Modi equated the rupee’s value to national honor when he was Gujarat CM. What happens to the nation’s honor now?” Raja asked, referring to Modi’s previous statements.
Shiv Sena leader Priyanka Chaturvedi criticized the government’s silence on the issue. “The country wants answers, Mr Prime Minister. Why is the rupee the only currency falling against the dollar?” she questioned in a social media post.
Trinamool Congress MP Saket Gokhale also blamed the government’s economic policies, calling the fall a reflection of deeper issues. “Growth is at a three-year low, inflation is out of control, and crude oil prices are surging. While the economy crumbles, PR Modi remains in denial,” he said.
