As Rupee Sinks to All-time Low, Piyush Goyal Says it is Going Through a 'Golden Run'
New Delhi, Oct 05: As the Indian rupee dipped further on Friday, Minister of Railways Piyush Goyal said this is the best period for the Indian rupee in the last 15 years.
"Rupee has only depreciated 7 percent in the last 5 years. This is the best period for the Indian rupee. It's a golden run," said Goyal while speaking at the Hindustan Times Leadership Summit.
The rupee has been depreciating since March this year. However, at the end of August, currencies such as Russian Ruble, Japanese Yen, the South Africa's Rand and the Mexican Peso have all had double digit depreciation against the US Dollar.
Rupee slumped to a lifetime low of Rs 74 against the US Dollar on Friday.
The senior BJP leader said that the nature of jobs in India is changing and that only government jobs could not provide growth.
"Nature of jobs in the world is changing. Everybody wanted to join railways, government before but now entrepreneurial ideas are coming up," added Goyal.
"If you are driving an Uber in Delhi, you are providing a service. This government is encouraging entrepreneurship and innovation," said Goyal.
Piyush Goyal added that he wanted to revive the charm of the Railways.
"It’s been 366 days since I took over as Railways minister. I have had one mantra - To bring the charm back to rail travel", said Goyal.
RBI governor Urjit Patel also said on Friday the domestic currency is still better than its emerging market peers and that the apex bank does not have a target for it.
Patel, while addressing the media after the customary post-policy press conference, admitted that the country has not been immune to global spillovers from external factors.
"The rupee fall, in some respect, is moderate in comparison to several other emerging market market peers," he said.
Patel ruled out a target for the currency and said, "Our response to these unsettled conditions has been to ensure that foreign exchange market remains liquid with no undue volatility. There is no target or band around any particular level of exchange rate, which is determined by market forces demand and supply."
Courtesy: www.news18.com
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Rishabh Pant's troubles continue as Punjab Kings push LSG towards exit door
Dharamsala, May 4 (PTI): Rishabh Pant lost the grip on his bat and the match simultaneously as Punjab Kings rode on heroics from the two 'Singhs' -- Prabhsimran and Arshdeep -- to literally push Lucknow Super Giants to the brink of elimination with a 37-run win in an IPL match here on Sunday.
It was Prabhsimran's 48-ball 91 that formed the cornerstone of Punjab Kings' unassailable 236 for 5 and any hopes of a remarkable chase was nipped in the bud by Arshdeep's (3/16 in 4 overs) now familiar Powerplay spell which summarily destroyed the opposition top-order.
This time, he got the three top run getters -- Mitchell Marsh (0), Aiden Markram (13) and the ever-dangerous Nicholas Pooran (6) -- to swing the match decisively in Punjab's favour. Ayush Badoni's (74 off 40 balls) effort was a good one albeit it came for a losing cause.
LSG were finally restricted to 199 for 7 in 20 overs and even if they win their last three games and get to 16 points from 14 games, their net run-rate can make things difficult for them.
Punjab Kings are now placed second with 15 points from 11 games and one more win could possibly clinch a place in top four for them.
But what is becoming an eyesore is LSG's Rs 27 crore worth skipper Pant's inexplicable approach which has fetched him a dismal 128 runs in 11 innings at a sub-100 strike-rate (99.22).
On the day, he scored 18 off 17 balls and that he is completely out of sync was evident in the manner he tried to throw the proverbial kitchen sink at an Azmatullah Omarzai delivery. There was no control in his shot as the bat took off on parabolic curve towards square leg and the ball went towards deep point.
Pant's misery was a testimony of LSG's wretched campaign that was lost at the auction table when the owner decided to go with a sub-standard bowling attack based on a half-fit talented pacer Mayank Yadav.
Mayank has already lost at least 10-15 yards of pace post rehabilitation under the watch of Nitin Patel at the National Cricket Academy.
On Sunday, he went for 60 runs off four overs with half a dozen of sixes struck off his bowling.
The pint-sized Prabhsimran packed a mean punch in his strokes as he blasted his way to a 48-ball 91 with the help of six fours and seven sixes.
The Punjab keeper-batter should have got his second IPL hundred but an ambitious switch hit off Digvesh Rathi saw him head back to the pavilion, nine runs short of what would have been a deserving milestone.
Towards the end, Shashank Singh scored 33 off 15 balls to take PBKS to what looked like an unassailable total. There were 16 sixes hit by Pujab Kings with 13 coming off pacers.
Prabhsimran was initially a passive partner as it was Australian Jos Inglis who launched the first attack with a hat-trick of sixes off Mayank Yadav, whose speed has decreased by at least 15 kmph post his intense rehab under Nitin Patel at the BCCI's erstwhile National Cricket Academy to recover from back injury.
However, once Inglis was dismissed, Prabhsimran, along with skipper Shreyas Iyer (45 off 25 balls), took control of the game. They were only helped by some atrocious fielding from Avesh Khan, who would probably go down as the worst fielder in the 18-year history of IPL.
Adding insult to injury, Prabhsimran took the tall MP fast bowler to the cleaners as he was pulled over mid-wicket for back-to-back maximums. Khan went for 57 in four overs and if around 15 runs due to his misfielding is added, he caused the maximum damage for his team.
The duo of Prabhsimran and Iyer added 78 runs in 7.5 overs before Rathi, LSG's best bowler on view, became the first spinner in the current season to account for Punjab Kings skipper's wicket.
But Prabhsimran continued like a man possessed and LSG bowlers were guilty of feeding to his strengths throughout the innings.
