Raghav Chadha: The consistent weakening of the Indian Rupee against the US Dollar has sparked significant concerns, with the Rupee hitting a historic low. Senior AAP leader and MP Raghav Chadha has openly criticised the central government for this economic setback. Using his X (formerly Twitter) handle, Raghav Chadha highlighted the gravity of the situation, emphasising the government’s mismanagement of the economy.
Raghav Chadha Calls Out Economic Mismanagement
In his post on X, Raghav Chadha pointed out: "The Rupee has now fallen to an all-time low of ₹86.5 against the Dollar, a historic low. From ₹60 in 2013 to this sharp drop, the trend reflects significant economic mismanagement by the central government.
Instead of addressing structural issues, the Finance Minister continues to blame external factors. Meanwhile, the common man is left to deal with rising inflation and expensive imports. Here’s an excerpt from my speech in Parliament when the Rupee was at ₹82 against the Dollar."*
Raghav Chadha Criticises Central Government
Raghav Chadha shared a throwback video on his X handle where he criticized the central government’s handling of the economy.
In the video, he stated: "When this government came to power, one Dollar was equal to ₹60. Today, one Dollar costs ₹82. Leaders from this very government had previously claimed that a weakening Rupee would tarnish India’s reputation and credibility. Now, it seems that India’s reputation, credibility, and the Rupee have all hit rock bottom."
Why is the Rupee Weakening Against the Dollar?
Raghav Chadha’s criticism of the central government has led many to question the reasons behind the Rupee’s continued fall. Key factors include:
Rising Crude Oil Prices: The increased cost of crude oil imports has significantly impacted India’s trade balance.
Decline in Indian Stock Market: A persistent slump in the stock market has further weakened investor confidence.
Structural Economic Challenges: Issues like inflation and external debt continue to strain the economy.
Raghav Chadha's Call for Economic Reform
Raghav Chadha has consistently held the central government accountable for the weakening Rupee, urging them to focus on addressing core structural issues. He highlighted that the economic policies need urgent reform to stabilise the Rupee and protect citizens from inflation and the rising cost of imports.