“Rupee is in ICU”: Congress attacks Modi govt as Indian currency falls to all-time low against US dollar

New Delhi: The Congress said on Monday that the Indian Rupee is in ICU after it slipped to a record low of 77.28 against the US dollar.

Congress chief spokesperson Randeep Singh Surjewala 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. Under Modi government, the Indian Rupee has fallen even beyond the age of Prime Minister. What is the reason? There are three apparent reasons: number one is inflation. Life has become unbearable and expensive. Whether it is petrol, diesel, cooking gas, eatables... Secondly there is immeasurable flight of capital from India, the reason is BJP sponsored communal tension across India."

Surjewala blamed "rampant corruption in BJP-ruled states", "insurmountable debt of government of India and states" and "depletion of foreign exchange as some of the reasons behind the situation". "The cost of doing business in India has gone up manifold... Foreign Exchange Reserve have gone down in a fortnight from $604 billion to $536 billion. "How will the economy of country sustain itself when government is sponsoring communal polarization and tension and atmosphere of hate. Why should anybody invest here?" (UNI)