Rupee fall to Rs.68.80 per dollar on Wednesday is said to be the fall out of UPA government's election schemes like DCT and Food security .
Financial analysts say that such huge subsidies by the UPA government to the tune of Rs. six lakh crores ( fuel subsidy, depletion of gold reservesfood subsidy and market subsidy) have all driven the indian rupee to its present low nmark . Glolbal experts have blamed the UPA policies for hitting exports and rising import cost leading to the current tragic happening. ' First casualty has been the majorityof indian students dropping out in view of huge and steep cost rise in study fees '.
The rupee fall has already cost the indian industry and economy at a loss of Rs.l23,000 crore per day and an accumulated loss of over Rs.6 lakh crore since the down fall in earlyAugust . ' It will take us narly five years to recoup from the loosses and rejuvinate the economy 'Chidambaram was informed at an financial analysts conference at Delhi this morning.
Financial analysts say that such huge subsidies by the UPA government to the tune of Rs. six lakh crores ( fuel subsidy, depletion of gold reservesfood subsidy and market subsidy) have all driven the indian rupee to its present low nmark . Glolbal experts have blamed the UPA policies for hitting exports and rising import cost leading to the current tragic happening. ' First casualty has been the majorityof indian students dropping out in view of huge and steep cost rise in study fees '.
The rupee fall has already cost the indian industry and economy at a loss of Rs.l23,000 crore per day and an accumulated loss of over Rs.6 lakh crore since the down fall in earlyAugust . ' It will take us narly five years to recoup from the loosses and rejuvinate the economy 'Chidambaram was informed at an financial analysts conference at Delhi this morning.
