Spokesperson: Shri Randeep Singh Surjewala: He said- In an unprecedented fashion, Indian rupee has fallen to an abysmal low of Rs. 77.41 to a dollar. Never has this happened in 75 years. Under Modi Government, Indian rupee is in ICU and what are the reasons for the same.

There are 3 apparent reasons- Number one- Runaway inflation. Life has become unbearable and expensive; whether it is petrol, whether it is diesel, whether it is cooking gas, whether it is CNG- PNG, whether it is eatables, everything has gone beyond the reach of the common man.

Secondly- There is immeasurable flight of capital from India and the reason for that immeasurable flight of capital is BJP sponsored communal tension across India, rampant corruption in BJP ruled states, the insurmountable debt of government of India and the states because of which confidence of the investor has gone and the cost of doing business in India has gone up many folds.

Third and a matter of concern is - the depletion of foreign exchange reserves. The foreign exchange reserves even over a fortnight or so have gone down from 604 billion to 536 billion US dollars. Only in one fortnight, the foreign exchange reserves have depleted by nearly 31 billion dollars. How will the economy of the country sustain itself, when government sponsoring communal divide, polarization and tension and atmosphere of hate? Why should anybody invest here and that’s why flight of capital is happening, foreign exchange reserves are going down and runaway inflation is heating at every aspect of our economy. Monday, May 9, 2022