New Delhi, Dec 14 (UNI) Samajwadi Party (SP) President Akhilesh Yadav launched a scathing attack on the Bharatiya Janata Party (BJP)-led central government on Sunday, asserting that the rupee’s historic decline against the US dollar proves the government’s economic data and claims are “completely false and fabricated.”
In a statement released on social media, the former Uttar Pradesh Chief Minister argued that the continuous weakening of the Indian currency is undeniable proof of a “very weak and failed government.”
Yadav did not mince words, directly challenging the credibility of the ruling party’s economic management.
“The rupee’s biggest ever weakening against the dollar in history shows that all the figures and claims being made by the BJP government regarding the economy are completely false and fabricated,” Yadav stated.
He further suggested that the BJP cannot deflect responsibility for the economic situation, reminding the public of the party’s own past rhetoric regarding the currency’s value.
“The BJP cannot deny that this is happening because of a very weak and failed government, because the unique formula of an unprecedented economic theory linking the rupee’s fall and the government is the BJP’s own contribution,” he added, referring to the BJP’s criticism of the rupee’s value during the previous UPA regime.
Yadav concluded his critique with a succinct and powerful political slogan, directly linking the currency’s strength to a change in government.
“Bhajpa Jaye Tou Rupiya Mazboot Ho Jaye! (If the BJP leaves, the rupee will become strong!),” he posted, turning the current economic challenge into a key political talking point ahead of upcoming elections.
The Indian rupee has faced significant pressure recently, repeatedly hitting record lows against the US dollar, driven by factors including global crude oil price fluctuations, continuous outflows of foreign institutional investment (FII), and the US Federal Reserve’s tightening monetary policy.
The SP’s sharp criticism comes as the opposition parties increasingly focus on economic indicators, inflation and unemployment to challenge the BJP government’s narrative of robust economic growth.
The ruling party, however, has been citing high foreign exchange reserves and its overall economic reforms as evidence of a stable financial system capable of weathering global headwinds.
The rupee slumped by 9 paise on Friday to close at an all-time low of 90.41 per 1 USD.
