Indian rupee will get stronger after NDA comes to power: Subramanian Swamy

PTI Posted online: Sunday, Apr 27, 2014 at 0000 hrs
Varanasi : BJP leader Subramanian Swamy said rupee will appreciate to Rs 35 per dollar from over Rs 61 in the next two years if NDA comes to power.

"If NDA forms the next government and Modi becomes Prime Minister then the value of rupee will get stronger and after two years of NDA rule it will be Rs 35 per dollar," he said.

Swamy also said that he opposes FDI in retail as Walmart gets bank loan at a rate of two per cent for carrying out business, whereas in India businessmen get bank loans at the rate from 12 per cent to 18 per cent.

"So how is it possible to compete at varying interest rates of bank loans for carrying out retail business?" Swamy asked.

He was addressing an 'intellectual meet' on "BJP Hi Kyon" (Why BJP is the only option for forming the government) at Nivedita Shiksha Sadan here.

Swamy said that BJP prime ministerial candidate Narendra Modi, whose government in Gujarat brought a sea change in the state, has made it the most developed state in the country in the last decade.

There has been an agricultural growth rate of 10 per cent per annum in Gujarat, he said.

"Congress says Gujarat model is a lie but I challenge them that they should prove this. I know they could never do so as Gujarat gets 24 hour electricity, water for irrigation and many other facilities," Swamy added.