New Delhi, Aug 24 (India Today) : As the rupee hit a fresh two-year low of 66.47 to a dollar , a belligerent Congress launched another round of attack on the Narendra Modi wondering if the fall will now match the age of BJP veteran Lal Krishna Advani, who is 87.
"The rupee has crossed Prime Minister Narendra Modi's age. It has also crossed Finance Minister Arun Jaitley's age. Will it now touch Lal Krishna Advani's age?" Congress spokesperson RS Surjewala asked. While Modi is 64, Jaitley is 62.
Jaitley was seen fire-fighting the bloodbath on Dalal Street on Monday, assuring the country that India will not be affected. "For the last few days there has been a great amount of turbulence which has been caused in the global markets. And obviously that turbulence has had its impact on the Indian markets itself," he said.
"Factors responsible for this are entirely external. There's not a single domestic factor in India which has contributed or added to it," Jaitley added, saying the country will still emerge as a leading economic superpower.
The Reserve Bank of India fixed the reference rate of rupee at 66.5093 against the US dollar and 76.2729 for the euro as against 65.8298 and 74.2692 respectively, last Friday.
According to an RBI statement, the exchange rates for the pound and the yen against the rupee were quoted at 104.0072 and 54.97 per 100 yen, respectively, based on reference rates for the dollar and cross-currency quotes at noon. The SDR-rupee rate will be based on this rate, the statement added.
Comment on this article
Sethu, Mangalore
Thu, Aug 27 2015#Lokesh, Mangalore: I respect your rights to disagree. My comments was apolitical and not intended to support BJP. In fact, I do not believe in the present dispensation of democracy in India where right of the people are always held in backseat. As regard to present value of Indian currency, please take note of local currency devaluation at countries from where British were forced to exit as a fall-out of II World War, particularly in South-east Asia. The devaluation of rupee, one among the highest, is contradicts the basic tenets of economics and resource management and, hence, is surprising. We squarely failed to frame robust policies and manage our resources with full potential. I do agree, first few five year plans indeed has taken India forward. Post 1972, tells an altogether different story. Post Rajiv Gandhi era was the worst for organised looting of national resources. Leaders riding on the euphoria of socialism were in fact nurturing capitalism through backdoor. Today, 90% of national resources are held by 10% of population and net-worth of a handful may cross entire GDP of the nation. I think, Nehru has mutated all indian DNAs towards tolerating a family rule. Under democracy, we have options but we conveniently forgot to taste it in full. Even after six decades of independence, the elements of nationalism is missing everywhere. Let us forget silly politicas and ponder where we are standing collectively as a Nation. Notwithstanding defective performance of other political parties in contemporary political history of India, I still believe supporting the actions of Congress in managing the economy of this Country falls nothing short of a crime. Hope you will respect my rights to disagree.
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Lokesh, Mangalore
Wed, Aug 26 2015@ Sethu, Mangalore: you said, US Dollar was at par with Indian rupee during independence. You forgot lot of things.
1. If you believe and support Jaitly that external factors have profound influence in rates, then when British left India was Under Indians and the whole world did not had any faith how this new government run the economy. That dropped the rupee in first place. We had to start from the scratch because India had to have its own companies and stock exchange, British did not gift anything when they left India.
2. What non congress governments did? Did they improved the ratio?? No .. they were busy in making money even from the soldiers coffin when the citizens were donating whatever they had during Kargil war. You may not know how many poor people donated to the Kargil fund.
3. What is the present government doing?? The world tour of the PM should have made the outside factors to lean towards India and strengthen rupees but it is sliding which says that the world tour is not getting results and now even ministers coming with excuse that acche din was never promised. Do you have any justification for this??
By just preaching here you will become a genius. Political parties blame each other. We voted to BJP because congress was corrupt. So, we expect better management fro this government not like Congress did but this regime is full of corruption already before even finishing a year oi the office. For your information, when India had hit by sanctions for that Nuclear bomb, the government managed the economy better than now and when the oil prices were rocket high, the same government managed the economy better than now. The same BJP who were in opposition blocking everything the government tried. Now for this silly Chinese influence, the Finance minister is crying. Why we need this kind of government which blames everything else except themselves. I am sure tomorrow, Sushma might blame China for Modi gate.
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Flavian, Mangaluru/Kuwait
Tue, Aug 25 2015Arun Jaitely, with lots of responsibilities on his shoulders looks very much exhausted, ever since the time he has taken Ministerial posts (Minister for Finance, Corporate Affairs and Information and Broadcasting of India)
Whereas, P.M is other way around. Going stronger. (56" to 58" ?)Touchwood!
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Omkara Nayak, Bailur/Dubai
Tue, Aug 25 2015Rightly said Mr.Sethu.
Exceptional comments
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Bhaskar Acharya, Shirva
Tue, Aug 25 2015NOW WHAT ABOUT BANGALORE?
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prem, moodbidri
Tue, Aug 25 2015Achche Din for NRIs.
FEKU running to foreign countries again and again & they sponsor his shows. So he should pay them back also!
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Sethu, Mangalore
Tue, Aug 25 2015US Dollar was at par with Indian rupee during independence. Since then, it has crossed the age of Priyanka, Rahul and Vadra and is presently heading to reach Sonia in the coming days. As a political party which governed this Country for 55plus years since 1947, Congress cannot absolve from responsibility just because they were voted out of power one year back with a never before representation in the lower house. Congress need to learn basic lessons on owning-up failures as a measure to move ahead. Though memory of people are known to be short, twelve months is too short to erase 2G, Commonwealth Games, Coalscam, Bofors, etc... etc... from public domain. Present economical position is squarely due to poor fiscal management and diabolical administrative standards set-in by successive Congress Governments. They are responsible for legalizing corruption. Entire public sector structure is in shambles. Administrative machinery and bureaucracy is polluted and cannot be cleaned. Primary productive sector, Agriculture, is non-viable and almost extinct. People of the country is engulfed with a negative mindset with no hopes nearby.
Scandals and corruption with an outlay equal to one five year plan is the main contribution of Congress. Those in power and close to them like Vadra became billionaires. Hit and run ministers like Kapil Sibal, Chidambaram, Khurshid etc., made the bounty while in power and left the scene. Waiting for Congress to come to power for re-appearance. Till then they, sitting on the wrong side, will argue notorious cases like Sahara in Supreme Court. Weather Congress is in or out of power does not makes much difference to them. Rahul has just now come out of forced hibernation and is playing ignorance of the past with his opportunistic selective dementia. Who told India is having a Great Democracy? It is true BJP has not proved yet they are a better alternative. Still, give them time to prove their point. This blunt criticism can wait till then!........
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Stan, Udupi/Dubai
Tue, Aug 25 2015Still there are lot of foolish voters who believe feku netas.WE should not blame politicians whose sole aim is to win elections by hook or crook.Its always the fault of voters who vote for wrong people to rule them.
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Arun, Mangaluru
Tue, Aug 25 2015Now the 31% of indian voters must be thinking " Mangana kaiyalli maanikya kotta haage aayithu"!!!
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Michael noronha, Mysore
Tue, Aug 25 2015Throughout the economic upheavals external factors does play a major role in every country in the past and present. But our politicians like Jaitley used it for their political advantage to nail the government of the day for its incompetence to manage the economy. The present Central leaders should learn to be statesman in certain issues concerning the nation and not behave like petty politicians. They should have cooperated with the Government of the day in the national interest. Unfortunately they love themselves more than the nation and let the country bleed by their wrong policies and politics.
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flavian.dsouza, chik/banglore
Tue, Aug 25 2015I am afraid NDA will handover the reins back to UPA in the same state as we were in 1991 . Running a country was something few dedicated people like MMS knew very well
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Declan, Mumbai
Tue, Aug 25 2015Dont be afraid. Be relieved that the country's economy will be in the hands of a person (MMS) who understands the ABCD of economics much better than most in this country. He needs to crack down on some of his corrupt party men/coalition partners though, which he better do if he has learnt any lessons from losing power.
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kp, mlore
Tue, Aug 25 2015Narendra DUMBOdardas Modi is doing tapasya on his travels abroad. Do not disturb.
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santhosh, Mangaluru
Tue, Aug 25 2015Congis should be happy, the price will appreciate for 65 acres of land grabbed by Pappu
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Orton, Mangalore
Tue, Aug 25 2015Followed by A.B Vajapayee's age.
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prr, sullia
Tue, Aug 25 2015When the rupee reached $1 = Rs 67 during MMS period, the US stock market was steady, the European stock market was steady, Japanese market was steady and Chinese market was steady. It was only few countries like India, Indonesia and Turkey currency slid against dollar, against Euro and against Yen. The current situation is different. There is a stock market collapse all over the world that is affecting the currency market. Even now rupee is strong against Euro and Yen. It is the slightly weak against dollar. It is possible because of strong steps taken by Modi to improve Forex reserve to 350 billion dollars from 270 b and able to reduce external debt significantly. It is acknowledged by Dr Rajan who is a congress man.
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vivek, Hirebile/ Abu Dhabi
Tue, Aug 25 2015Jhootly busy saving Sushma and vasundara.........where he have time for Finance Ministry ...Jhootly extraordinary SMART looking FOOL ...Like Shashi taroor...
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Brie, Mangalore
Tue, Aug 25 2015This is the fate of the country, when Chaiwal becomes PM. Modi don't even got the clue of Economics..
By the what's the price of Chai going on in the Market.
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Bollu, Mangalore
Tue, Aug 25 2015Jossey-Selling chai and counting notes is money management. FEKU thought economics and money counting is same.Jury about FEKU is out within two years.I think he will go into hiding very soon.
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A. S. Mathew, U.S.A.
Mon, Aug 24 2015India will not be affected and the GDP will be 10-12%. Arun Jaitley, is he living on the earth or in some other planet?
Wonder working Economist.
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Declan, Mumbai
Tue, Aug 25 2015Hence the name Jhootly !
But why blame him or his leader ? If there are enough stupid and brain washed people to believe him and his master and vote for them what is their fault ? He is just taking advantage of foolishness of those voters.
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Santan Mascarenhas, Kinnigoli/Mumbai
Mon, Aug 24 2015The assurances given by Raghuram Rajan and Jetley cannot be taken at face value. The political compulsions have kept them away from telling the reality. No doubt, we have 380 Billion Dollars FXR while China has 3650 Billion Dollars FXR. This 380 foreign exchange reserve consists of a lot of money invested by FIIs in Stock Exchange. If some adverse situation comes, they will not hesitate to sell the stock and take back their money. That will have a direct impact on share market and value of Rupee. The inside economic conditions in India are not very satisfactory. The industrial productivity and profitability has not shown any up sign, There is an adverse balance of payment position, too little export and too much imports. According to Moodys the GDP is expected to be around 7, that is more or less same as when Modi took over. However, we wish we will be saved from this calamity.
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John , Udupi
Mon, Aug 24 2015When the rupee touched 58 during the last days of UPA tenure, BJP and NaMo launched a blistering attack on congress and also ridiculed Soniaji and Rahulji!. BJP even promised in their election manifesto that they will bring rupee to 45 per dollar!. Now the rupee has defied gravity and bakhts are still blaming congress!. Come on bakhts, continue this for the next 4 years!. Anyway lift jamming Amit Shah has already said that it will take another 25 years for them to set things right but by then most of bakhts will be in obituary columns!
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N.M, Mangalore
Mon, Aug 24 2015chaiwala and his failed lawyer cannot run India... India is not a RSS shakha.
BJP Bhagao Bharat Bachao.
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xavier, Bikkaranakatta/MCT
Mon, Aug 24 2015Finance Minister Arun Jaitley jee "Factors responsible for this are entirely external. There's not a single domestic factor in India (so if you produce Made in India saaman Khoun Karedega soch ne wali baath hai FM
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jeetendra hegde, mumbai
Mon, Aug 24 2015After all,The goings on india shows, all the politicians, irrespective of party have special blood group than that of poor voters...Even though rupee fall is beneficial to AAM insaan,thats too,for the people working in gulf countries...but problem is the very same BJP which promised to increase respectability of Rupees agaist dollars is failed to keep its word. and Even murgi become cheaper than Toor daal and onion which is the basic ingrediants of daal saar, which is a common curry of aam insaan...I don't want to say , AAM AADMI coz they become khas aadmi and rides on public money...
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Suman, Mangalore
Mon, Aug 24 2015Congress entertaining its illiterate supporters. Experts without knowledge.
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Harish Hegde, Mangalore/Aramco
Mon, Aug 24 2015Suman, Mangalore you are talking as if you are smart, China already suffering because of their market down, just image what will happen to India.
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gm, mlur
Tue, Aug 25 2015That's what i am saying without knowledge how can a person promise to bring back black money and distribute to the public. Fooled all the people and fools made him PM.
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praveen, kulshekar
Mon, Aug 24 2015make in India and its happening in India, All the tamashaas....enjoy maadi, namma nimma sarkara alla idu eedu modi, baba,aunty gala sarkara
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Anees, KARKALA
Mon, Aug 24 2015Now Feku start to blame previous govt.. his mind still in opposition party..For him enjoy with foreign tour...
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Jossey Saldanha, Mumbai
Mon, Aug 24 2015Selling Chai and Economics is a different ball game ...
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Ambrosed, vijipur
Tue, Aug 25 2015Very Apt comment Josal! Keep it up.
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Anil, Dubai/ Mangalore
Mon, Aug 24 2015Congress is very generous in giving back what they got from BJP, when they were in power.
Can they do something for China economy slowdown or Dollar prices up due to Euro effect.
Hope Congress is juust trying to make fun of Suit Boot Sarker...
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Ramesh S, mangalore
Mon, Aug 24 2015..calm down calm down..Congress minister Ramalinga Reddy said BJP voters are well educated and Congress voters are not..Its Congress leaders word,not from RSS leaders..BJP voters know that Asian markets are totally down and wall street also tumbling, so our Rupee..if you ask why during UPA2 BJP voters didnt said this?,its becuase they are BJP voters and Congress caught in political JUMLA..Congress has to educate its voters..at present even Rupee passes VAJAPAYEE age also no worry..its temporary..Gold rate also came down, now picking up..
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Joseph F. Gonsalves, Bannur, Puttur / Mangalore
Mon, Aug 24 2015Dear Ramesh S, mangalore,
Congress voters are not blind.
They are educated and can perceive well.
Unlike blind bhakts who have commented during UPA rule with big mouth.
See below my comments what your educated chaaiwaala C.M., during the Election campaigns said.
WE DON'T BOW TO THOSE CONGRESS MEN INVOLVED IN CORRUPTION CASES TO COME OUT FROM THE FAVORS OF CHAAIWAALA FROM THE CAGED CHADDY BUREAU OF INVESTIGATION.
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Raj, Mangalore
Mon, Aug 24 2015Joseph, yes Congi supporters are intelligent . That's why till today they have not questioned how Nehru surname had become Gandhi.
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Ravi B Shenava, Mangaluru
Mon, Aug 24 2015The Price of Onion has crossed Advani's age now.
So why not import onion from China which is now available equivalent to Rs.15/- per KG after recent devaluation of Chinese currency and crash of Chinese economy.
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Hubert D'souza, Mangalore Dubai
Mon, Aug 24 2015Don't Go In Behind China, They Supply Duplicate Onions.
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RAVINDRA, KARKALA
Mon, Aug 24 2015Govt has absolutely no role in Global Turbulence and no country can remain detached from it. It affect every country. It has affected us in the past and also affect in future. Low global commodity prices and oil prices are good for our country.
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Joseph F. Gonsalves, Bannur, Puttur / Mangalore
Mon, Aug 24 2015Dear RAVINDRA, KARKALA,
Do the UPA had absolute role in the Global Turbulence of RECESSION during UPA regime.
Why those educated blind big mouths shouted during UPA rule including the chaaiwaala.
NOW COME ON EAT PATHANJALI BISCUITS AND MAKE BOW, BOW, BOW.
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RAVINDRA, KARKALA
Tue, Aug 25 2015I said nothing about UPA Govt. Global meltdowon affects whether it is UPA, NDA or Communist Govts.
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Peter, Bangalore
Mon, Aug 24 2015I am sure Modi will not face any interview next 4 years.
Specially Arnab's.
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hydarali, kutharpadav
Mon, Aug 24 2015Economy depends upon both internal and external factos. Mere slogans and election rhetoric doesn't work . your honeymoon period is over Mr PM. It is the time to perform. Ultimately it is not congress or BJP which can help in mitigating the problem. It is we the 125 crore people whose hard work dedication that matter .
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GCP., Muscat
Mon, Aug 24 2015Forget it. Dollar ka achche din aagaya samjo. Is there any increase in sign up for popcorn valley reception? That is important, need to cross target numbers.
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ISMAIL K PERINJE, PERINJE
Mon, Aug 24 2015Well,Modi used more than 90 days foreign soil undermining domestic necessities!Did he bring any halt in the slide of of Rupees against DOLLAR?If we benefited with unprecedented foreign tour in FDI or so the Dollar will not slide like that...Now Sanghis may cite China downtrend but that issue came by latest.Administrators always administrators and jokers always jokers.
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Ramchandra Shetty, Urwa
Mon, Aug 24 2015FEKU is giving bonus to the NRI's and Tenga to the BHAKTHS.
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Valerian D Souza, Mangalore/Dubai.
Mon, Aug 24 2015This is the advantage to be in the opposition....like you caught hold to the handle...You can swing the katthi easily on anybody without accountability
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Nish, Mangalore
Mon, Aug 24 2015Rupees got voting rights in Saudi Arabia, now crossed 18 from sweet sixteen. Achhe din for those who stay abroad and Baba Ramdev in side India.
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malika, udupi
Mon, Aug 24 2015Bouth jaldh Gandhi ji ka be age cross karega yaisai gayatho
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santhosh, Mangaluru
Mon, Aug 24 2015Oh No... see who is making fun of Govt.. Pappu ke chelo,,this is because of your great deeds India is in such a mess
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william, mangalore
Mon, Aug 24 2015To answer this one has to be economist not chaiwala
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Roshan P. D'Mello, M'lore
Mon, Aug 24 2015The only thing Modi achieved so far is that he is the "First PM to visit all the Countries where previous PMs didn't Go"
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R.J.F, U.S.A
Mon, Aug 24 2015He did that only to safeguard his reputation internationally. Because for next election people of his country wouldn't give him a chance.
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GCP., Muscat
Mon, Aug 24 2015Mr. Jaitley should seek Mr. MMS's help to tackle this crisis.
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ABD, LOS ANGELES
Mon, Aug 24 2015RUPEE WENT FROM AROUND PAPPU'S AGE TO MOUNMOHAN SINGH'S AGE UNDER UPA REGIME...!!!
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Joseph F. Gonsalves, Bannur, Puttur / Mangalore
Mon, Aug 24 2015Dear Blind ABD, LOS ANGELES,
Open your eyes and see the following:
Indian currency at the peak during UPA regime was as below:
August 29th 2013 1.00 US dollar = Indian rupees 67.77
Now under chaaiwaala feku regime:
Today as of now 1.00 US dollar = Indian rupees 66.4685
Mid-market rates: 2015-08-24 06:41 UTC
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ABD, LOS ANGELES
Mon, Aug 24 2015@ JOSEPH
RUPEE VALUE AGAINST DOLLAR WAS 44 WHEN UPA CAME TO POWER ON MAY 2004 AND REACHED 70 ON OCTOBER 2013 .....DID YOU FORGET IT Mr CONGI SUPPORTER???
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Krishna Kant, Mangalore/Moodbidri
Mon, Aug 24 2015ABDUL, LOS ANGELES just wait and watch soon it may pass our grandfathers age too. Anyway it is benefiting you guys.
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Hubert D'souza, Mangalore Dubai
Mon, Aug 24 2015India Is In The Hands Of??????
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A.M Shaikh, Dubai, Belapu, Kaup
Mon, Aug 24 2015AMBANI, ADANI AND LALITH
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Declan, Mumbai
Tue, Aug 25 2015dont forget BABA RAMDEV !
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Nazeer, M'Lore / Riyadh
Mon, Aug 24 2015ye tho hona hi tha, ache din,,, bahut ache din as promised by 56' Chaaiwaala PM ( but he silently mentioned for NRI's)
when you make failed & uneducated people to rule this what happens. not a big deal.....
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Joseph F. Gonsalves, Bannur, Puttur / Mangalore
Mon, Aug 24 2015Thanks to UPA headed by Congress for keeping the forex reserves well.
SEE WHAT THE CHAAIWAALA HAS SAID DURING HIS ELECTION CAMPAIGNS ABOUT THE FALL OF INDIAN RUPEE AND ECONOMY.
1) Narendra Modi blasts 'mute' PM, says both UPA & rupee have lost value
PTI Aug 24, 2013, 03.14PM IST
RAJKOT: Gujarat Chief Minister Narendra Modi today continued his tirade against Prime Minister Manmohan Singh over the falling rupee, saying both he and the domestic currency have turned 'mute'.
"There was a time when Indian rupee was making lots of noise. But today it has lost its voice. And similarly we are unable to hear the voice of our Prime Minister. Both have turned mute," he said here in Saurashtra region.
2) Narendra Modi attacks PM over falling rupee, says UPA govt is too arrogant
Express News Service , Express News Service : Ambikapur, Sun Sep 08 2013, 06:36 hrs
Gujarat Chief Minister Narendra Modi on Saturday launched yet another scathing attack on the Congress-led UPA government and Prime Minister Manmohan Singh, even as he launched the poll campaign for Chhattisgarh Assembly elections in Ambikapur.
I don't dream of being the PM: Modi
He accused the UPA government of being at the zenith of arrogance and considering citizens of the country as mere votebanks. "The government in Delhi is so arrogant that it does not even answer the questions of people," said Modi.
3) YouTube: Tv9 Gujrat - Narendra Modi slams UPA on fall of the Indian rupee.
4) Centre only worried about saving its chair, not rupee: Modi . The Hindu d: August 20, 2013 18:28 IST
Intensifying his attack on the UPA government, Narendra Modi on Tuesday said its leadership is directionless and only worried about saving their chair while not being concerned about the sliding rupee and the economic crisis that is worrying the nation.
NOW THE MUTE CHAAIWAALA N.R.I. P.M., SHOULD SWALLOW WHAT HE HAS VOMITED DURING HIS ELECTION CAMPAIGNS.
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ISMAIL K PERINJE, PERINJE
Mon, Aug 24 2015When dollar-rupee exchange was RS 54-55,every sanghis in this form were up in the arm against Congress!!MMS not only PM of India but financial manager of this country.I think Dollar fetch RS 75 in near future?But for Sanghi supporter,not big issue.
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Harsha Malhotra, Mangalore/New Delhi
Mon, Aug 24 2015If crossed..it will benefit NRI's.
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CHRIS, DUBAI
Mon, Aug 24 2015you should also consider becoming one lol
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Valerian D Souza, Mangalore/Dubai.
Mon, Aug 24 2015What is the benefits we get? Accordingly inflation also increases. Prices will increase.
The increase in exchange rate I have to adjust in inflation....!
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Harsha Malhotra, Mangalore/New Delhi
Mon, Aug 24 2015Valerian..
Automatically your bank balance will increase.
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Declan, Mumbai
Tue, Aug 25 2015But your expenses Budget will completely lose balance !
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