FM Jaitley Claims INR Weakens Against US Dollars Following International Factors: Farmers, Workers Protest Against Govt Policies

AS Finance Minister Arun Jaitley on Wednesday said that the reasons for the fall in rupee against the dollar are purely global, thousands of farmers and labourers from across the country held a massive protest in the national capital against what they called “anti-people” policies of the Modi government.They demanded higher prices for farm produce, waiver of loans and better wages. Carrying placards and shouting anti-government slogans, marched from Ramlila Maidan to Parliament  House  in Central Delhi, and warned the ruling BJP that it will have to pay a heavy price in the upcoming Lok Sabha polls for ignoring the demands of the disadvantaged people. The Finance Minister said “If you look at the domestic economic situation and global situation, there are not domestic reasons attributable to this, but all reasons are global.” He added that the rupee is better off now than what it was four to five years ago.”We must bear in mind that dollar has strengthened against almost every currency. The rupee has either consistently strengthened or remained in a rage, not weakened.” He assured that the Reserve Bank of India is working in the right direction and taking necessary action. “I don’t think there is any need for the world’s fastest-growing economy to come out with panic and knee-jerk reactions,” Jaitley said. The ‘Mazdoor Kishan Sangharsh Rally’, organised by the Centre of Indian Trade Unions (CITU), All India Kisan Sabha (AIKS) and All-India Agricultural Workers’ Union (AIAWU), also demanded concrete measures to generate jobs, minimum monthly wage of Rs 18,000 for workers, halting “forcible” land acquisition and stopping changes in labour laws.The organisers claimed nearly 1.5 lakh farmers and labourers from at least 23 states have participated in the protests, preparation for which had started several months back.(Pic courtesy to NewIndianExpress)

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