Rupees Suffering Low Fever: CM Mamata Snubs Centre

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Kolkata: After a poem titled ‘Identity’ to protest against people’s names not being included in the National Register of Citizens, Bangla Chief minister Mamata Banerjee wrote a post questioning where India was headed and opened it in rhyme.
In a tweet, she said, “Rupee suffering from low fever. Petrol and diesel prices highest ever. Foreign Exchange Reserves have fallen by $21.84 billion between March end and August 3.”

“Current Account Deficit is moving up towards 2.8 per cent of GDP,” she said.

Referring to the GST, the chief minister said the new indirect tax regime resulted in huge losses to West Bengal’s revenue. Mamata Banerjee also said that foreign exchange reserves had fallen, current account deficit had risen, the ‘bravado of launching GST resulted in a loss for states and the creation of black markets for goods.

The post from the West Bengal chief minister comes on a day the rupee hits its lowest-ever level against the dollar. The rupee slumped to a fresh record low of 71 against the dollar for the first time ever by falling 26 paise on persistent demand for the US currency amid rising crude prices.

Banerjee, one of the most vocal leaders in the opposition, had recently written a poem to protest against the exclusion of residents from the National Register of Citizens.

“Very dangerous situation for the people of India!” she wrote.

Describing the economic situation as “very dangerous”, she added, “Everyone in the country is concerned now. Where we are heading?”

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