Global factors are the reason behind rupee depreciation: FinMin Sitharaman

Currently, India is focusing to enhance export that will impact the economy positively. 

Global factors are the reason behind rupee depreciation: FinMin Sitharaman
Global factors are the reason behind rupee depreciation: FinMin Sitharaman

New Delhi: Union Finance Minister of India Smt. Nirmala Sitharaman today on July 18, states that the reason behind the low rupee value is the global factors like the Russia-Ukraine war, high crude oil prices, and tightening of the global financial conditions, these were the crucial things that lead to the weakening of the Indian rupee against the US dollar, said in Lok Sabha.


Union Minister also said currencies like the British pound, the Japanese yen and the Euro have weakened more than the Indian rupee against the US dollar.

Currently, India is focusing to enhance export that will impact the economy positively. 

Today the changes relating to the GST rate, in pursuance of recommendations were made by the GST Council in its 47th meeting, came into effect from today, 18th of July, 2022. 

One such change is moving from imposition of GST on specified goods when bearing a registered brand or brand in respect of which an actionable claim or enforceable right in a court of law is available to imposition of GST on such goods when “pre-packaged and labelled”.