Rupee fell 50 pc under Modi govt compared to 33 pc during UPA regime: CPI-M MP

New Delhi, Feb 11 (PTI) The Indian rupee has depreciated 50 per cent against the US dollar during the Modi government's tenure compared to 33 per cent decline during the previous UPA regime, CPI-M MP John Brittas said on Tuesday during the debate on Budget 2025 in Parliament.

Participating in the discussion the Upper House, Brittas noted that the rupee has fallen from Rs 60 to Rs 90 against the US dollar in the last 11 years of the Modi government, while during 10 years of the Manmohan Singh government, it depreciated from Rs 45 to Rs 60.

Despite giving income tax relief of Rs 1 lakh crore to the middle class, he said the government has projected an increase in income tax collection by 14.4 per cent for next year, while corporate tax revenue growth is hardly 10 per cent.

"Is it middle class or anti-middle class Budget? It is a corporate Budget," he said.

The CPI-M leader also claimed that India's imports from China have doubled while attacking the ruling government for being the "biggest pro-China".

He warned that policies of the new US government are going to affect India as the country imports significantly from America.

Referring to Modi and Trump, he said, "You can hug leaders, no harm in it. When you hug, they are chaining our brothers and putting handcuffs. We need to decide on our foreign policy." Participating in the debate, SS-UBT's Priyanka Chaturvedi highlighted alleged discrimination in fund allocation, particularly regarding Maharashtra.

She pointed out that only Rs 400 crore of the previous year's Rs 600 crore special package for drought-hit Vidarbha and Marathwada regions had been utilised.

Chaturvedi also raised concerns about the Nagpur's Nag River project, where only Rs 6 crore was sanctioned against the allocated Rs 500 crore in 2024 due to procedural delays. The current Budget has reduced the allocation to Rs 300 crore.

Meanwhile, defending the Budget, BJP MP Sikander Kumar from Himachal Pradesh said, "The Budget has welfare schemes for all sections of society and this will have positive impact on our economy in the coming days." Congress was in power at the Centre for 55 years and in Himachal Pradesh for 35 years but not a single project worth Rs 10,000 crore was approved for the state, he alleged, adding that the state is now growing along with others under the Modi government.

BJP MP Dharmshila Gupta said the finance minister expressed her love and trust towards Bihar people by wearing a traditional Madhubani saree gifted by Padma Shri awardee artist Ramdhulari Devi who hails from the Dalit community.

A history has been created with the announcement of Makhana Board as it will empower women and provide job opportunities in the state, she added.

Rashtriya Lok Morcha member Upendra Kushwaha also hailed the Budget saying the Modi government has done justice to Bihar. Corn farmers are getting better prices for their produce after ethanol production was allowed, he added.

Sanjay Seth of BJP hailed the Budget announcements and highlighted the initiatives taken by the government in the last 10 years. PTI LUX MJH TRB

Source: PTI