Subramanian Swamy Predicts an Economic Collapse; Calls out The PM Again! Posted on March 18, 2023 News By Akta Yadav 353 Views Subramanian Swamy:- When I talk about Subramanian Swamy, what is the first thing that comes to your mind? Is it his endless debates with Asaduddin Owaisi, being the primary petitioner against "Amma," aka J. Jayalalithaa, or the sharp rebuttal of Narendra Modi for the economy of the country while being a member of Rajya Sabha from the same party? (I haven't even mentioned the 2G scam or the National Herald case) Subramanian Swamy Whatever the case may be, one can't deny that the man has been an astute and uncomplicated figure in Indian politics. And this time, too, Subramanian Swamy has done what he does best: Putting out "unfiltered" opinions! According to the reports published by the Reserve Bank of India (RBI), forex reserve falls were estimated to be around USD 2.39 billion in the first week of March, leading to a total of USD 560 billion. The experts marked the 3-month low figures as a precursor to something significant coming our way! As per sources, India's forex reserves stand at USD 562 billion currently. The forex reserve fall isn't an overnight blow but a depreciation that's been on the horizon for the past year. India ended the last year with a meagre $562.851 billion, a drop of around $70 billion from the $632.74 billion as of January 2022. After recording a growth in the forex reserves for 3 consecutive years (2019, 2020, and 2021), India faced a stiff decline in 2022, and more are expected this year. Harvard alumni Subramanian Swamy, nevertheless, didn't hold back his opinion on the matter. He accused PM Modi on his Twitter handle of being "ignorant to economics" while also calling out his party members. He wrote, "Mark my words: Modi’s political colleagues are too frightened to tell him like it is in the economy. Modi himself is ignorant of economics, so the crisis is inevitable due to Govt being clueless." This is not the first time Subramanian Swamy lashed out at his former party Chief. He formerly, on many occasions, singled out PM Modi for his economic policies and the GDP of the country. There are many reasons for the forex reserve fall. One can blame the RBI for trying to defend the Indian Rupee to avoid a free fall. The aggressive monetary policies undertaken by the US government, including the hike in interest rates, are also key reasons for the fall of forex reserves in the country. Subramanian Swamy The reasons for the forex reserve fall are many. However, the onus lies on the Government and the RBI to turn the tide in the country's favor. With the growing financial crisis worldwide, a stable forex reserve is no less than a necessity! For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
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Subramanian Swamy
Whatever the case may be, one can't deny that the man has been an astute and uncomplicated figure in Indian politics. And this time, too, Subramanian Swamy has done what he does best: Putting out "unfiltered" opinions!
According to the reports published by the Reserve Bank of India (RBI), forex reserve falls were estimated to be around USD 2.39 billion in the first week of March, leading to a total of USD 560 billion. The experts marked the 3-month low figures as a precursor to something significant coming our way!
As per sources, India's forex reserves stand at USD 562 billion currently.
The forex reserve fall isn't an overnight blow but a depreciation that's been on the horizon for the past year. India ended the last year with a meagre $562.851 billion, a drop of around $70 billion from the $632.74 billion as of January 2022.
After recording a growth in the forex reserves for 3 consecutive years (2019, 2020, and 2021), India faced a stiff decline in 2022, and more are expected this year.
Harvard alumni Subramanian Swamy, nevertheless, didn't hold back his opinion on the matter. He accused PM Modi on his Twitter handle of being "ignorant to economics" while also calling out his party members.
He wrote, "Mark my words: Modi’s political colleagues are too frightened to tell him like it is in the economy. Modi himself is ignorant of economics, so the crisis is inevitable due to Govt being clueless."
This is not the first time Subramanian Swamy lashed out at his former party Chief. He formerly, on many occasions, singled out PM Modi for his economic policies and the GDP of the country.
There are many reasons for the forex reserve fall. One can blame the RBI for trying to defend the Indian Rupee to avoid a free fall. The aggressive monetary policies undertaken by the US government, including the hike in interest rates, are also key reasons for the fall of forex reserves in the country.
Subramanian Swamy
The reasons for the forex reserve fall are many. However, the onus lies on the Government and the RBI to turn the tide in the country's favor. With the growing financial crisis worldwide, a stable forex reserve is no less than a necessity!
For more updates keep visiting our website www.topstoriesworld.com where we provide unbiased, true, and top stories of the world.
