CPI (M) express concern in Lok Sabha over falling rupee
Moneylife Digital Team 05 August 2013

According to the CPI-M, the neo-liberal policies of the UPA government have widened the gap between the rich and the poor and the country is today divided between ‘suffering’ and ‘shining’ India

Expressing concerns over the declining value of rupee and a serious economic situation, the Communist Party of India (Marxist)- CPI(M) has asked the union government to take immediate measures to retrieve the situation.


Expressed serious concern during the zero hour in Lok Sabha, CPI (M) leader Basudeb Acharia said, “Government has failed to check the sliding of the rupee which is now worth over Rs60 per dollar. Inflation in food articles is over 10 per cent and prices of all essential commodities have reached abnormal levels. The situation is serious.”


Livelihood of the people has reached 'precarious levels with one-fourth of the population going to bed in empty stomach. The rate of employment generation has gone down from 2.8% to 0.8%, he said.


“All this is happening because of the wrong policies pursued by the government. The neo-liberal policies have widened the gap between the rich and the poor and the country is today divided between ‘suffering’ and ‘shining’ India,” he said, adding the hike in diesel prices was raising costs, adversely affecting the people.


Acharia demanded that the government “immediately revert all its neo-liberal policies” to retrieve the situation.

Abhijit Gosavi
9 years ago
The rupee is sliding because of mismanagement of the economy! Rampant corruption, inflation, unimaginative tax controls and infrastructure management, and mismanagement of stock markets all gradually contribute to a slide in the currency. It takes about 5-10 years for the effects of any policies to become visible. It is the CPIM that was in power during 2004-2009 when these faulty policies were put in place. Why are they complaining now? Even if a new govt. comes into power in 2014, the situation won't improve until 2020.
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