Congress MP flags sharp rupee slide and mounting economic strain in Rajya Sabha

Daijiworld Media Network - New Delhi

New Delhi, Dec 4: During Zero Hour in the Rajya Sabha, Congress MP Vivek Tankha delivered a forceful warning about what he called the “freefall” of the Indian rupee and the growing financial distress confronting citizens and businesses across the country. Calling the situation urgent, he said the currency’s plunge was creating widespread pressure on households and key sectors of the economy.

Tankha pointed out that the rupee had slipped beyond Rs 90 per US dollar — hovering between 90.14 and 90.19 — its weakest level ever. Over a five-year span, he said, the rupee has shed 20–27 per cent of its value, eroding people’s purchasing power by nearly a quarter. With a 5 per cent decline this year alone, he described the rupee as one of Asia’s poorest perfo