Venugopal Slams Govt Over Rupee Fall, Compares It to ‘Surrender’ on Trade Deal

Congress MP K C Venugopal on Wednesday criticised the Centre over the weakening of the rupee against the US dollar, alleging that it has “surrendered” just like Prime Minister Narendra Modi did before the United States on the trade deal.

Participating in a debate on the Union Budget in the Lok Sabha, Venugopal said the rupee had fallen sharply against the dollar and claimed its value had slipped to 91 against the US currency.

“Just like India surrendered before the US on trade deal, our rupee has also surrendered to the US dollar. Now the value of our rupee against the US dollar is 91,” he said.

Taking a swipe at Prime Minister Modi, the Congress leader referred to a past remark made during Modi’s tenure as Gujarat chief minister. “There was once a chief minister of Gujarat who compared the value of the rupee with the value of the Government of India. India’s rupee is 91 against the dollar, what is the value of the Government of India now?” Venugopal quipped.

The remarks came amid a broader opposition attack on the government’s economic policies during the ongoing discussion on the Union Budget. Treasury bench members, however, defended the government’s handling of the economy and external sector challenges.

The debate in the Lok Sabha witnessed sharp exchanges between the ruling party and the opposition over issues including currency depreciation, inflation and trade policy.