CPI(M) blames high current account deficit for falling rupee
First published: August 16, 2013, 5:20 PM IST
| Updated: August 16, 2013
The volatility in rupee value was "bound to happen" due to a very high current account deficit and the situation was akin to the major financial crisis faced by India in 1991, the CPI(M) said on Friday. "It is clear that a very serious current account deficit has built up in the country and the situation is not very different from what it was in 1991," senior CPI(M) leader Sitaram Yechury told reporters ahead of the party's Politburo meeting which began in New Delhi.