Priyanka Gandhi Questions Modi Government as Rupee Hits Record Low

The Indian rupee has fallen to an unprecedented low of 90 per US dollar, prompting a flurry of political exchanges between members of the ruling Bharatiya Janata Party (BJP) and the opposition Congress party. Congress leader Priyanka Gandhi criticized the Modi government for its inaction, emphasizing the stark contrast to past BJP criticisms of the United Progressive Alliance (UPA) government regarding currency depreciation.

In a statement, Gandhi questioned why the government remained silent during this economic downturn, recalling how BJP leaders previously mocked the UPA for similar circumstances. Senior Congress leader Salman Khurshid attributed the rupee’s decline to external pressures, including US sanctions and tariffs, which he claimed were foreseeable and have now materialized in the currency’s weakness.

Government Response to Economic Concerns

In response to the criticism, Minister of Commerce and Industry Piyush Goyal defended the current administration, asserting that India’s economic fundamentals remain strong. He pointed to significant indicators such as robust GDP growth, healthy foreign exchange reserves, and increased capital inflows alongside export growth, despite ongoing global challenges.

Goyal’s remarks aimed to reassure the public and stakeholders about the resilience of the Indian economy. He stressed that the government is committed to navigating through these turbulent times and fostering a stable economic environment.

Despite these assurances, many citizens and analysts perceive a growing disparity between the government’s optimistic messaging and the reality on the ground. With the rupee at its weakest point ever, questions arise regarding the root causes of this economic crisis. Is it primarily a result of global economic turbulence, policy failures, or a combination of both?

The situation remains dynamic as public sentiment evolves, influenced by the ongoing debate between political leaders. As the currency crisis unfolds, the implications for trade, investment, and everyday life in India become increasingly significant.

The discussion around the rupee’s performance reflects broader economic themes and political narratives that resonate with many Indians, further intensifying the scrutiny on the Modi government. As political leaders continue to exchange barbs, the impact of these economic policies will be closely monitored in the coming weeks.