Congress leader Priyanka Gandhi Vadra has raised concerns over the Indian rupee’s unprecedented fall against the US dollar, demanding answers from the government. On Saturday, she took to social media to question the current administration’s handling of the economy, pointing to the rupee’s historic decline.
The Indian rupee slipped by 18 paise on Friday, breaching the 86-mark for the first time ever against the US dollar. It closed at 86.04, marking its lowest value in history.
In a strongly worded post in Hindi on X (formerly Twitter), Priyanka Gandhi expressed her concerns over the devaluation of the rupee. “The value of the rupee against the dollar has hit its lowest level ever. For the first time in history, the value of one US dollar has become 86.4 rupees,” she stated, highlighting the significant depreciation of the Indian currency.
Drawing comparisons to past leadership, she recalled the tenure of former Prime Minister Manmohan Singh, during which the value of one US dollar hovered between 58 and 59 rupees. She pointed out that during that time, Narendra Modi, then the leader of the opposition and Gujarat’s chief minister, had frequently criticized the government for the rupee’s performance.
According to Priyanka, Modi had linked the strength of the currency to the credibility and prestige of the government. She quoted his past statements, where he claimed to have deep knowledge about economic matters and declared, “The currency of any country cannot fall like this.”
Turning her criticism toward the current administration, Priyanka remarked, “Today, he is the prime minister, and under his tenure, all records for the fall of the rupee have been broken. The prime minister must answer to the people of the country.”
Her comments reflect growing concerns among opposition leaders and the public over the performance of the Indian economy. The rupee’s continued decline has sparked debates about the government’s monetary policies, its ability to control inflation, and its strategies for managing external economic pressures.
This depreciation comes amid global uncertainties, including rising oil prices, geopolitical tensions, and increasing interest rates in the United States. While these factors have impacted currencies worldwide, critics argue that domestic policies have exacerbated the situation for the Indian rupee.
Priyanka Gandhi’s remarks also bring into focus the political narratives surrounding economic management. During Manmohan Singh’s tenure, the BJP had often used the rupee’s performance as a barometer to critique the UPA government’s handling of the economy. Now, as the rupee falls to record lows, the opposition is adopting a similar approach to question the economic stewardship of the Modi administration.
The Congress leader’s call for accountability comes at a time when inflation, unemployment, and economic disparities are already significant issues of public concern. By linking the rupee’s performance to governmental responsibility, she has reignited the debate over the Modi government’s economic track record and its ability to navigate complex economic challenges.
As the rupee continues to face headwinds, the government is under pressure to address these concerns and reassure the public about its economic policies. Whether through immediate measures or long-term strategies, the Modi administration’s response will likely shape the political discourse in the months to come.