'Inflation coming': Rahul slams Centre over weak rupee; predicts when govt will hike fuel price

NEW DELHI: Leader of opposition in Lok Sabha Rahul Gandhi slammed the BJP-ruled central government over falling rupee and called it "clear signs" that inflation was inevitable. He criticised the Centre's "empty rhetoric" as the country faces economic restrain due to LPG shortage amid West Asia crisis. He claimed that petrol, diesel, and LPG prices would be hiked after state elections."The rupee weakening against the dollar and heading towards 100, coupled with a sharp rise in industrial fuel prices—these aren’t just numbers; they’re clear signs of the inflation to come," Rahul said in a post on X. "The government may call it “normal”, but the reality is: Production and transport will get more expensive; MSMEs will be hit the hardest; the prices of everyday items will go up; FII money will flow out even faster, putting more pressure on the share market" he added."In other words, it’s bound to have a direct and profound impact on every family’s pocket. And it’s only a matter of time—after the elections, the prices of petrol, diesel, and LPG will be hiked too. The Modi government has neither direction nor strategy—just empty rhetoric. The question isn’t what the government is saying—it’s what’s left on your plate," he said.Rajya Sabha MP Kapil Sibal added to the concerns and said that Iran's retaliation would destroy India's economy "because we are dependent on gas, LPG, and crude oil from there, and it will take years to restore these resources..." “The whole argument that is sought to be made is that we are reliant on the US for our trade… But the fact of the matter is, no trade can perish, and no manufacturing can take place in the country without energy. Where does our energy come from? It comes from the Middle East through the Strait of Hormuz… What leverage will we be left with if our energy resources are depleted... I request the government and the PM that this is not the time to remain silent. Iran's retaliation for petroleum and gas resources in the Gulf will ultimately destroy our economy because we are dependent on gas, LPG, and crude oil from there, and it will take years to restore these resources," he said.The rupee plunged to a record low of 93.71 on Friday, tumbling 108 paise from its previous close of 92.63, its steepest single-day fall in four years. The sharp decline comes amid growing concerns that oil prices could remain above $100 for an extended period, as the widening West Asia conflict increasingly targets key energy infrastructure in the region.