Swamy blames PC’s son for sinking rupee

Charges Karti Chidambaram with involvement in Forward Trading

Hyderabad: Directly linking the corruption culture in Congress party to depreciating rupee, the former Union minister Dr Subramanian Swamy alleged that forward trading by Union Finance Minister’s son Karti Chidambaram and his ilk as one of the single major contributors.

Speaking on ‘Fall of Rupee – Failure of UPA’ Dr Subramanian Swamy pointed out that Karti Chidambaram was directly involved in ‘punting’, ‘short selling’ and ‘front trading’ from Dubai and Singapore. “He is following the legacy of his father, whose role in 2G scam is unambiguous. Tihar jail is awaiting the Chidambarams”, he averred.

Taking exception to the idea to market the gold from the historical temples in the South India, like Padmanabha Swamy temple for controlling the financial situation, he put forward suggestion to release $ 20 billion Forex reserves from $ 277 billion the country has, as the best solution. Recalling that under NDA government that ruled for 6 years, the Dollar appreciation was only Rs.4, he said that within few years of UPA rule (from 2004) it climbed Rs.23 in less than 10 years. Pointing out that Indians were having Rs.1.76 lakh crore outside, in Swiss bank accounts he underlined that BJP is the only party that can bring it back.

India should have 50 smaller states:

BJP leader and former Union Minister Subramanian Swamy stated that the creation of separate state of Telengana state would become a reality soon. Answering a question on the sidelines of a memorial lecture at Osmania University here on Saturday, he said “The formation of Telengana state will take place in due course come what may.” Strongly advocating BJP’s theory of smaller states, Subramanian Swmay felt that India should be divided into 50 smaller states so that development can be taken up easily. “