Government Lacks Ideas to Handle Economy, Says Congress

“Today the situation is that that the rupee is losing its value and Prime Minister has no grace,” he added.

Published: 25th August 2015 09:53 AM  |   Last Updated: 25th August 2015 09:53 AM   |  A+A-

ManishTewari-pti
By ANI

NEW DELHI: The Congress leader Manish Tewari on Tuesday cornered the NDA Government over the sharp decline in the Sensex and Nifty yesterday, saying that the latter had no idea how to handle India’s economic interests.

“This government has no idea how to handle India’s economic interests, the rupee is depreciating the price of onion is rising and the government is totally intoxicated in power,” Tewari told ANI.

The Congress leader further said that in 2013 when rupee had tumbled due to the external factors the opposition had accused former prime minister Manmohan Singh, saying he had lost his grace.

“Today the situation is that that the rupee is losing its value and Prime Minister has no grace,” he added.

The BSE Sensex dropped 5.94 percent yesterday, its biggest daily percentage fall since Jan. 7, 2009. The index fell to as low as 25,624.72 at one point, its lowest intraday level since August 11, 2014.

Meanwhile, the Nifty lost 5.92 percent yesterday, also its biggest fall since Jan. 7 2009. It earlier hit a low of 7,769.40, its lowest since Oct. 17, 2014.

The rupee fell to as low as 66.74 per dollar on Monday, it’s lowest since September 2013, as Asian markets reeled under fears of a China-led global economic slowdown.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp