Rupee's depreciation concerns Sibal

A quite well-known personality, Kapil Sibal, does not fail to criticise Prime Minister Modi's big silence on the country's rupee's record-low value against the prestigious mighty US dollar. 

Regardless of how much it may be a conundrum or a difficult problem with our dear country's currency, which does not hold strong value in its current condition.

For us, it clearly shows some despairing trends. Parallels are entirely coincidental.

As our great country relies heavily on imports for oil, electronics, and machinery, a weaker rupee makes these items more expensive, leading to imported inflation. This is a simple theory, but it seems not to be waking our policymakers.

He has even expressed grave doubts over the budget. He is not sure whether it will benefit the poor, mentioning as many as eleven long years of resource droughts. 

He also does not pause to categorically claim that increasing import expenses directly harm the poor, while the budget satisfies the rich straight away.

Criticising the government over the weak rupee hitting an undeniably record low against the US dollar, Rajya Sabha member Kapil Sibal lately has not forgotten to ask why Prime Minister Narendra Modi has been maintaining a big silence upon this a bit more pertinent issue and argued that he maintained muted as he knows that he used to criticise the UPA on this particular issue as part of a political game.

 He stressed that the aim of a budget must be to improve satisfaction and reduce the pain of the poor.  But he doubts whether this will be carried out; it has not been reflected in any of the budgets of the past 11 years, he maintained.

In his interview, he also said India is the fastest-growing economy in the world. Despite this practical fact, the real test of an economy is to create a comfortable situation to mitigate people's pain comparatively.