Rahul slams govt over trade deficit touching all-time high
New Delhi (PTI): Slamming the Modi government, Leader of Opposition in the Lok Sabha Rahul Gandhi on Wednesday said prioritising crony businesses over play-fair ones leads to weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation.
Tagging a media report which said that trade deficit and imports are at an all-time high, Gandhi hit out at the government.
"What happens when a government prioritises crony businesses over play-fair businesses?" Gandhi said.
"Result: Weakened manufacturing sector, depreciating currency, record high trade deficits, high interest rates, falling consumption and soaring inflation," he said in a post on X.
After recording double-digit growth in October, India's exports in November contracted by 4.85 per cent year-on-year to USD 32.11 billion, while the trade deficit widened to an all-time high of USD 37.84 billion due to record surge in gold imports.
According to the commerce ministry data, imports rose by 27 per cent year-on-year to a record USD 69.95 billion in November due to high inbound shipments of vegetable oil, fertiliser, and silver.
Gold imports during the month under review soared to an all-time high of USD 14.8 billion as against USD 3.5 billion in November 2023.
Cumulatively, during April-November this fiscal, exports increased by 2.17 per cent to USD 284.31 billion and imports by 8.35 per cent to USD 486.73 billion.
Trade deficit, the difference between imports and exports, during April-November widened to USD 202.42 billion from USD 170.98 billion during April-November 2023.
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Man mowed down by speeding car in Bengaluru
Bengaluru (PTI): A man was allegedly mowed down by a speeding car on MG Road in the heart of the city on early Friday morning, police said.
Srinivas, who was in his late 50s, died on the spot in the accident that occurred at Anil Kumble Junction here, they said.
According to police, the accident occurred at around 4.30 am. Srinivas was walking along the side of the road when a car travelling at high speed allegedly hit him with immense force. The driver of the offending vehicle fled the spot.
The impact of the accident was so severe that Srinivas died on the spot, a senior police officer said.
A case of accident under Section 106 of the Bharatiya Nyaya Sanhita for causing death due to negligence has been registered, he said.
CCTV cameras installed in the area are being analysed to identify the offending vehicle, police said, adding that further investigation is underway.
