Mamata criticises Centre over economic situation

Voicing concern over the falling rupee and rising fuel prices, West Bengal Chief Minister Mamata Banerjee on Friday said there is a "dangerous situation" for the common people.

She also asked where is the country heading to with depleting foreign exchange reserves.

The Trinamool Congress supremo alleged that the "unprepared bravado" of launching the Goods and Services Tax (GST) resulted in a loss to state revenues to the tune of Rs 48,178 crore during the July-March period of the last financial year.

"Rupee suffering from low fever... petrol and diesel prices highest ever," Banerjee said in a social media post.

The Indian rupee plunged to a fresh record low of just over 71 to a US dollar during the morning trade session on Friday.

Taking a dig at the Central government, Banerjee said: "Very dangerous situation for the common people of India! Every one of this country is concerned now. Where are we heading to?"

"The unprepared bravado of launching GST has resulted in a massive loss to state revenues to the tune of Rs 48,178 crore during July 2017-March, 2018," she said.

Banerjee also said there were now "charges of racketeering, black marketing and hawala due to the makeshift filing of GST, without supporting invoices".

She claimed that foreign exchange reserves have fallen by $21.84 billion between March-end to August 3.

The current account deficit is moving up towards 2.8 percent of the Gross Domestic Product, she said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)