Concern in Lok Sabha over declining value of rupee

CPI(M) asked the government to take immediate measures to retrieve the situation

Serious concern was expressed in Lok Sabha today over the declining value of rupee and a serious economic situation, with CPI(M) asking the government to take immediate measures to retrieve the situation.

'Government has failed to check the sliding of the rupee which is now worth over Rs 60 per dollar. Inflation in food articles is over 10% and prices of all essential commodities has reached abnormal levels. The situation is serious,' CPI(M) leader Basudeb Acharia said during Zero Hour.

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.