August 16, 2018
Depreciating rupee will increase oil prices, kill small businesses: Mamata Banerjee
Chief Minister Mamata Banerjee today tweeted about the alarming rate at which the rupee is getting devalued, saying it will lead to a host of problems for the economy of the country, including an increase in oil import bills and the closing down of small businesses. For the latter, this will be another massive blow following that of demonetisation.
Among other sectors to be hit would be agriculture. Farmers’ distress will be compounded as the rupee falls. Also, as a consequence of oil prices going up, transportation will become costlier and naturally, the prices of vegetables and other farm items will go up.
She ended by saying that “the writing is on the wall” for the BJP-led government at the Centre.
Rupee crashes to its lowest ever. We are very concerned. Oil imports bill will now jump. Prices for vegetables will go up. After demonetisation disaster and now Rupee slide, informal sector and small businesses will be further killed. Farmer distress will be compounded… 1/2
— Mamata Banerjee (@MamataOfficial) August 16, 2018
Time is running out. The writing is on the wall!! #RupeeCrash 2/2
— Mamata Banerjee (@MamataOfficial) August 16, 2018
