Rupee suffering from 'low fever', says Mamata Banerjee

West Bengal Chief Minister Mamata Banerjee on Friday mocked the Centre over Rupee’s record-breaking slide, saying the Indian currency was suffering from “low fever”. In a tweet, she said, “Rupee suffering from low fever. Petrol and diesel prices highest ever. Foreign Exchange Reserves have fallen by $21.84 billion between March end and August 3.”

“Current Account Deficit is moving up towards 2.8 per cent of GDP,” she said.

Referring to the GST, the chief minister said the new indirect tax regime resulted in huge losses to West Bengal’s revenue.

“The unprepared bravado of launching GST has resulted in a massive loss to the state revenue to the tune of Rs 48,178 crore during July 2017 - March 2018.

Describing the economic situation as “very dangerous”, she added, “Everyone in the country is concerned now. Where we are heading?”

The rupee hit a record low of 71 against the US dollar for the first time today, while petrol and diesel prices hit a new high in the four metros.