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  India   All India  16 Aug 2018  Depreciating rupee will kill small businesses, says CM Mamata Banerjee

Depreciating rupee will kill small businesses, says CM Mamata Banerjee

PTI
Published : Aug 16, 2018, 1:51 pm IST
Updated : Aug 16, 2018, 1:51 pm IST

Banerjee said the informal sector and small businesses will be worst hit by depreciating rupee and lead to increase in the oil import bill.

'After demonetisation disaster and now Rupee slide, Rupee crashes to its lowest ever. We are very concerned,' the chief minister tweeted. (Photo: Twitter/ANI)
 'After demonetisation disaster and now Rupee slide, Rupee crashes to its lowest ever. We are very concerned,' the chief minister tweeted. (Photo: Twitter/ANI)

Kolkata: West Bengal Chief Minister Mamata Banerjee on Thursday said the informal sector and small businesses will be worst hit by the depreciating rupee and lead to increase in the oil import bill.

"After demonetisation disaster and now Rupee slide, Rupee crashes to its lowest ever. We are very concerned," the chief minister tweeted.

"Oil imports bill will now jump. Prices of vegetables will go up. After demonetisation disaster and now Rupee slide, informal sector and small businesses will be further killed. (sic) Farmer distress will be compounded... Time is running out. The writing is on the wall!! #RupeeCrash", she said.

The rupee today slumped 43 paise against the dollar to trade at a life-time low of 70.32 on strong demand for the US currency.

Also read: Rupee hits new all-time low of 70.32, plunges 43 paise against USD

 

Tags: mamata banerjee, indian rupee
Location: India, West Bengal, Calcutta [Kolkata]