India News | TMC Slams the Centre for Eco Mismanagement

Kolkata, May 9 (PTI) With the Indian rupee hitting an all-time low, the Trinamool Congress on Monday slammed the Centre for alleged economic mismanagement and wondered whether Prime Minister Narendra Modi will own the responsibility or pin the blame on the opposition ruled states.

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The TMC said the union finance ministry has failed to tackle the problem and apprehended that the country is heading to a deeper economic crisis.

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“RUPEE weakens to ALL-TIME LOW! REASON: - Economic slowdown - Surging inflation - Widening trade deficit - Persistent capital outflows PM@narendramodi, will you take responsibility of your failures or blame the opposition-ruled states for this too?” the AITC tweeted.

TMC chief spokesperson Sukhendu Sekhar Ray said the country is heading to the "worst economic crisis the country has witnessed since Independence".

“The country has never witnessed such a situation. It seems the country is heading towards a deeper economic crisis. The union finance ministry is completely clueless on how to tackle the situation. So far as policies of the union government are concerned, there seems to be no respite in the near future,” he said.

The rupee extended its losses and slumped 60 paise to close at a record low of 77.50 (provisional) against the US dollar on Monday, pressured by the strength of the American currency overseas and unabated foreign fund outflows.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)