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Anand Sharma
Politics

How can India be the fastest growing economy when value of rupee is falling: Congress

New Delhi | The Congress party on Sunday questioned the Narendra Modi led Union government’s economic policies and falling value of rupee against US dollar.

Addressing a Press Conference, Congress leader and former Union Minister Anand Sharma alleged that the current government has weakened the banking sector  in the country which has lead to the increase in the NPAs for more than ₹12 lakh crore.

Attacking the Narendra Modi government Sharma said under the Modi government Unemployment crisis has peaked while the Current Account Deficit is consistently increasing and the Exports have gradually declined. Speaking on the failure of Indian economy under the current government, the former Union minister stated, “This year, until today, $30 bn of Foreign Institutional Investments (FII) have been pulled out of the country.”

” How can we be the fastest growing economy of the world when Indian Rupee is the worst performing currency in Asia? questioned the Congress leader.”People do not trust the banks, given the scams and crony capitalism in major banks of the country. Hence the investment have fallen down,” added Congress.

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