Spokesperson: Prof. Gourav Vallabh: He said- Today, one US dollar has reached the price of Rs. 80.86, means 14 paisa less than Rs. 81. I will be sharing the notification dated 22nd August of Reserve Bank of India with you all. As per this notification, Reserve Bank of India had allowed full capital account convertibility, in other words local currency can be exchanged in the foreign currency up to the limit of one billion dollars. And only 3 requirements are that the company who is converting local currency into US dollar or any foreign currency has to be in profit for last 3 years.

Why Modi Ji? On whose instruction, on whose guidance you have issued this? Any person, who has any interest in economy and finance can question this notification directly, that- why the foreign currency convertibility or the capital convertibility guidance or I can say notification was issued on 22nd August, when rupee was crossing every day the previous day’s record, the previous day’s closing price.

When the rupee falls, our all imports become more expensive, whether it is crude oil, so, who will bear the price- the middle-income group families, and lower income group families.

If we have saved money for higher education of our children that also has now become expensive because even without increasing of the fees by the foreign university, the fees is same in rupee terms we have to pay more.

One billion dollars’ limit means up to Rs. 8,081 crores. Now, it may be possible that Modi Ji had decided that now Margdharshak Mandal will be at 85, because Modi Ji is nearing 75 nowadays. So, this rupee is also going to reach Rs. 85, is this the objective Modi Ji? Why Nirmala Sitharaman Ji is silent, when this notification was issued by Reserve Bank of India, Dtd. 22nd August which allowed any Indian company to convert Indian currency into US dollar, up to Rs. 8,081 crores.

We want answer to these questions because enough is enough Modi Ji. Why should we bear the price of wrongdoing or the wrong policies of the Modi Government? Thursday, September 22, 2022.