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Former finance minister P Chidambaram has launched a scathing attack on the central government, blaming its handling of a host of issues including falling rupee, employment generation and LPG price rise.
He said the currency's decline was "inevitable" due to India's current account deficit as well as other factors like high inflation.The rupee, which on Thursday closed at an all-time low of Rs 79.99 to a US dollar, recovered 8 paise to settle at 79.91 on Friday. Chidambaram said the depreciating rupee can also be attributed to fall in exports, high inflation rate and outflow of foreign portfolio investments.
