Petrol, Dollar value to soon touch Rs 100: Andhra CM Chandrababu Naidu

Andhra Pradesh

AMRAVATI: N Chandrababu Naidu, the Chief of Telugu Desam Party and Chief Minister of Andhra Pradesh criticising the Narendra Modi-led government for the continues rise in fuel prices. Addressing a press conference on Monday he said that the petrol price will hit Rs.100 soon. He also opined that in addition to fuel price, the rupee value would also touch Rs. 100 against one US Dollar.


In the wake of the Reserve Bank of India's (RBI) report on demonetisation, Naidu said the Centre was unable to "properly manage demonetisation."

“The value of rupee is falling down rapidly with every passing day. I am not surprised if it touches Rs 100 per dollar in the coming days. The prices of petrol and diesel are shooting up steeply and very soon, the price of petrol might touch Rs 100 per litre.” Naidu said at a media conference in Amaravati the state’s new capital.

"What have we achieved from demonetisation? We are seeing the condition of banks today. Big notes should be abolished. What is the need for having Rs 2000 note? The Modi government could not properly manage demonetisation. I have no problem if digital currency comes fully into existence, but there needs to be proper balancing between digital and physical currency," he said.

Furthermore, Naidu said cash shortage was still prevalent in many parts of the country, adding that the recent growth in India's Gross Domestic Product (GDP) was a result of the "basic strength" of people, and "not due to NDA's achievements."

"(Prime Minister) Modi is not disciplined, it is inability. Even today, cash shortage is prevailing in ATMs. Nation's growth rate came down after NDA came into power. If the Centre is disciplined, why is corruption taking place? Why are banks getting insolvent? Modi is not eligible to speak about sincerity, truthfulness, and discipline," he noted.

With regards to schemes and measures implemented during his tenure as Chief Minister, Naidu said that efforts were channelised towards increasing the earthen water table.

"Our efforts are tuning fruitful. This year almost 2000 TMC of Godavari water flew into the sea. Projects on Krishna river - Srirsailam and Nagarjuna Sagar - are fully filled up. 12 projects are ready for inauguration in September. We will inaugurate three projects in October and one in November. As of now, we have spent Rs 58,024 crore for irrigation projects, mostly in Rayalaseema and North Coastal regions," he added.

(With inputs from Agencies)

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