Hyderabad: BJP government has turned India into a mountain of debt said TPCC President, MP Revanth Reddy. During Modi’s 8-year rule, the value of the rupee has fallen down to a record low. During the Question and Answer hour, Revanth Reddy questioned the downfall of the Rupee.
He questioned what all measures were taken by the central government to prevent the fall of the value of the Rupee. He reminded that when Modi was Gujarat’s Chief Minister when the value of the Rupee fell down to Rs 69, he remarked that Rupee is in ICU, but now the value of the Rupee has crossed Rs 82 against the Dollar.
He criticized that the BJP government has turned the country into a mound of debt. He asked for the details of the actions taken by the RBI to increase forex inflows while ensuring overall macroeconomic and financial stability in the last three years. Revanth said that the fall of the rupee has continued throughout this year and has not strengthened since December 2021.
Revanth said that since 2014 when BJP came to power till now, the value of the rupee has fallen steeply. He said that in these eight years, the fall of the Indian currency is more than that of the major currencies of the world. Revanth said that the domestic currency has depreciated by 11.75 percent so far this year, which is the first time such a decline has occurred in a single year.
He criticized that the government’s policies are playing with people’s lives by devaluing the rupee directly and indirectly. He said that with the fall of the rupee, inflation is increasing and there will be situations where more money will be spent on goods and services. He said that they will have to pay a higher price for the goods imported from abroad. He said that the central government’s behavior has weakened investors’ confidence in the Indian financial system.
Revanth said that since independence till 2014, the governments at the center have taken loans of Rs. 55,87,149 crores, but the debt incurred by the Modi government in these eight years from 2014 till now is Rs. 80,00,744 crores. He said that the debts incurred by the Modi government in just eight years are more than the debts incurred by all the governments that ruled the country in 67 years.
Revanth criticized the BJP government for turning the country into a pile of debt. On the one hand, the value of the rupee is falling day by day, but the Modi government is doing nothing about it, he complained. He criticized that the Modi government has not taken a single policy decision to instill confidence in the investors even as the confidence in the Indian market is waning.
