NEW DELHI, January 15: The Bharatiya Janata Party (BJP) today expressed serious concern over the continuing decline in the the value of the rupee, which hit an all-time low of Rs 40.15 to the US dollar yesterday, warning that this would have disastrous consequences on the economy.Meanwhile, 1,000 retired armymen joined the party today in Hyderabad. Party spokesperson Sushma Swaraj said here that they included six Lt Generals and Major Generals besides 200 other senior officers.
On the rupee front, Swaraj blamed the faulty policies followed by Manmohan Singh and P Chidambaram.
If the BJP was voted to power, it would take immediate measures to halt the decline, she said. "To achieve this, all necessary action will be taken on a priority basis."
The last six months had witnessed a rapid fall in the rupee value with the United Front Government failing to intercede, she said. The country's external debt burden, debt servicing and import bill (particularly the crude oil bill) would be adversely affected,
Swaraj added.
The rupee's fall in recent times has alarmed all political parties.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
