Former Union Finance Minister P. Chidambaram has said that Prime Minister Narendra Modi should consult with economic experts including the former governor of the Reserve Bank to find a solution after the continuous decline in the value of the rupee.
The value of the Indian rupee against the US dollar continues to fall at an all-time low. On Thursday, the Indian rupee touched a level of Rs.83.06.
In this situation, senior Congress leader and former Union Finance Minister P. Chidambaram has advised Prime Minister Narendra Modi to consult with economic experts including the former Governor of the Reserve Bank to find a solution.
Also Read | Is Pratham Rishi Sunak?
The Government seems helpless against the relentless decline of the value of the rupee
The declining rupee has consequences for inflation, current account deficit and interest rates
— P. Chidambaram (@PChidambaram_IN) October 20, 2022
In this regard, he has said in his Twitter post: The value of the Indian rupee against the US dollar is continuously falling at an unprecedented rate. Government seems helpless in this matter. Depreciation of the Indian rupee against the US dollar has serious implications for rupee inflation, current account deficit and interest rates.
At this juncture, the government needs all the wisdom and experience and my advice to the Prime Minister to resolve the issue of continued depreciation of the Indian rupee is to convene a meeting with experts immediately to consider the next steps the government can take in the interest of the country.
That is, Dr. C. Chidambaram posted that PM Modi should immediately convene a meeting with experts like Rangarajan, Dr. YV Reddy, Dr. Rakesh Mohan, Dr. Raghuram Rajan and Montek Singh Ahluwalia to find a solution.