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-


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.

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