Nation moving towards becoming a 'banana republic': Sena

The country is moving towards becoming a "banana republic", the Shiv Sena alleged Wednesday, while lashing out at its senior ally BJP over the depreciating value of the rupee and all time high fuel prices.

In remarks laced with sarcasm, the party said the rupee was plunging to a new record low against the US dollar, while Prime Minister Narendra Modi was busy holding the Congress responsible for ruining the nation's economy, forgetting that he has been in power for four years now.

"The fuel prices are sky-rocketing. Petrol will soon touch the Rs 100-mark. Scores of unemployed youth will come out on streets and spread anarchy. Farmers are not happy. Prices of foodstuffs, cooking gas and CNG have increased. New investments have decreased," the Sena said.

"The country's picture is heart-wrenching and we are moving towards being a banana republic," it cautioned in an editorial in party mouthpiece 'Saamana'.

If the rupee's slide continues, it will soon cross the Rs 100-mark against the US dollar, warned the Sena, which is an ally of the BJP at the Centre and in Maharashtra.

It noted that when the BJP was in the opposition, it used to say that with the rupee's depreciating value, the country's reputation slides as well.

"Now, if the rupee nears the 100-mark against the dollar, should it be said our nation's image is improving?" the Sena quipped.

Referring to a recent report of the World Bank, it said at a time when the Indian currency is on