Global factors behind Rupee fall, no need for knee-jerk reaction: Jaitley

Jaitley says domestic factors strong; hits back at Congress on Rafale

Finance Minister Arun Jaitley said on Wednesday that the upheaval in oil prices and the rupee was due to global factors, and the government will not take any decision out of panic that could be misconstrued as a ‘knee-jerk’ reaction.

Jaitley was addressing a press conference – his first after his recovery from a kidney transplant surgery – after a meeting of the Union Cabinet. His comments come even as prices of petrol and diesel have reached a record high and the rupee has touched a lifetime low of 71.97 versus the dollar.

In the media briefing, Jaitley also hit