"It is a panic situation."After this the confidence of the country and the investors should have increased by at least 10-20 paise but it has actually fallen," Swaraj said.Sitaram Yechury (CPI-M) said the country has 'come back to square one' after 22 years of reforms under Manmohan Singh as the economy is facing the same crisis as it did in 1991.Inflationary pressure would be twice as the rising food prices, coupled with imported inflation in the form of rising oil prices in the global market, would lead to a serious situation, he said.We want a statement from the Prime Minister, who is a renowned economist.. I do not deny some domestic factors too are responsible," he said, listing some external factors that have impacted rupee and Indian economy, like the US monetary stance and problems created by tensions in Syria and its 'inevitable consequences on oil prices'.. In a democracy, the buck stops at the Prime Minister and not disappear," he said, adding, "Prime Minister must take the House and the country into confidence".As soon as Rajya Sabha met for the day, Leader of the Opposition Arun Jaitley raised the issue of depleting value of the rupee, which has fallen 20 per cent against the US dollar this year and already breached 68 mark and said there was 'panic' as people did not know at what level the devaluation would stop."Government is not able to take decisions as the Cabinet does not have unanimity on issues," she said. Those having Ph..The falling rupee cast its shadow over Parliament with opposition saying there was panic in the country over the sliding rupee and creating uproar.BJP also charged that Chidambaram has in a subtle manner put the blame for the economy on his predecessor Pranab Mukherjee."It cannot be denied that the country is faced with a difficult economic situation," the Prime Minister said in the Rajya Sabha in impromptu remarks.
Thambidurai (AIADMK) said the Finance Minister has given 10 steps as Moses gave Ten Commandments but it has amounted to nothing."Day before yesterday there was a debate in the House on the state of the economy in which the Finance Minister gave a long speech enumerating 10 steps and maintained that if these are implemented the economy will improve."We have to reckon with these uncertainties," Singh said, adding he needed 'sometime to reflect' on them. When Lok Sabha reassembled at 1230 hours, the Left and AIADMK members stormed the Well again, leading to the second adjournment within minutes till 1400 hours. we want to know from the Prime Minister what he has in his mind for reviving the situation.They were joined by their colleagues from BJP, JD(U), SAD, BJD and other parties, forcing Speaker Meira Kumar to adjourn the House for 15 minutes. Left and AIADMK members even trooped into the Well in the Lok Sabha. "There are 5."The Finance Minister wanted to pass the blame on his predecessor who is now the President of India," she said.. Let the government also reply on their safety," he said.Ds in economics are not able to handle the economy," Swaraj said, adding the PM should clarify whether the rupee slide will stop or it will continue to fall.5 million Indians living in the Gulf.. Chidambaram's contention that the economy is in a bad shape as the country's polity is divided, the BJP leader said before accusing the opposition the government should bury its differences as it is a divided House. "There are several causes (for the economic woes)."The country's reputation is attached to the Rupee.She alleged that whenever the government faces a problem it seeks to hold allies like A Raja (DMK) and Sharad Pawar (NCP) responsible.Asaduddin Owaisi (MIM) said US may attack Syria and this would affect the Indians working in that country.
In the Lok Sabha, several political parties slammed the government over the sliding rupee, which has breached the Rs 68 to a US dollar mark.New Delhi: Under attack in Parliament over the sliding rupee, Prime Minster Manmohan Singh on Thursday conceded that the country was facing a 'difficult' economic situation and has to reckon with the uncertainties created by global factors like tensions in Syria.The Gate Stopper Lok Sabha first adjourned till noon following slogan-shouting by members of Left parties and AIADMK who were in the aisle demanding Prime Minister's statement on falling rupee on Thursday itself. He alleged that the government is working for and supporting only a few corporate companies.The Lok Sabha witnessed repeated adjournments amid Opposition demands for an immediate statement from the Prime Minister while the issue created uproar in the Rajya Sabha for some time.Rubbishing Finance Minister P.When the House met for the day, Leader of the Opposition Sushma Swaraj sought Speaker Meira Kumar's permission to speak during Question Hour on the continuous fall in the value of the rupee.M. "I would be happy to make a statement tomorrow," he added