The Congress on Sunday released an animated video mocking Prime Minister Narendra Modi over the Indian rupee’s record plunge past the 88-per-dollar mark, accusing his government of economic mismanagement and succumbing to pressure from US President Donald Trump.
The video, posted on the party’s X account, depicted a distressed rupee sign tumbling off a cliff before crashing into a caricature of Modi.
Set to satirical lyrics, it shows the Prime Minister lamenting the rupee’s decline while talking about his efforts to woo the dollar, represented by a Trump poster.
The clip jabbed the government for rising fuel and ration prices and inflationary pressures.
“Rupee gira re, currency ke bazar mein, meri sarkar mein….aab main kaise nayan milau..khud ki izzat niche gir gaayi, dekhu chori chori..(Rupee fell in the currency market and under my government. How do I look into the eyes (of the public), my respect has fallen),” the forlorn Modi caricature sang in the video, looking at the rupee sign.
“Lakh manaya dollar ko woh bola I am sorry (I tried to woo dollar but it said ‘I am sorry’),” the caricature sang, looking at a picture of US President Trump.
The jab highlighted the contrast between Modi’s current economic challenges and his criticism of Congress during the 2013–14 campaign, when he was the prime ministerial candidate.
Modi had accused the then UPA government of letting the rupee slide. “Today, the speed at which the value of rupee is falling, at times it seems there is competition between the government in Delhi and the rupee on whose value is falling faster,” he said in July 2013.
The Indian rupee dropped past the 88-per-dollar mark for the first time on Friday, hitting a record low with markets digesting the implications of additional US tariffs on India.
Washington imposed an additional 25 per cent tariff on Indian goods this week, doubling the total duties to 50 per cent.
On August 28, the Reserve Bank of India warned that uncertainties around US trade policies pose risks to domestic demand, though it said the near-term inflation outlook has improved compared to earlier expectations.
US Treasury Secretary Scott Bessent had on Wednesday repeated Trump’s criticism of India’s 'profiteering' from Russian oil purchases, while voicing optimism that New Delhi and Washington would reach a trade agreement despite the imposition of tariffs.
When asked by the Fox News anchor, "Do you worry that India will trade in the rupee and not the dollar?" Bessent responded, "There are a lot of things I worry about. The rupee becoming a reserve currency is not one of them."
Bessant further said that the Indian currency is currently near an "all-time low", underscoring the dollar's continued dominance in global trade.
He highlighted the strong personal rapport between Prime Minister Narendra Modi and US President Donald Trump as a basis for progress.
“This is a very complicated relationship. President Trump and Prime Minister Modi have very good relationships at that level. And it’s not just over the Russian oil,” he said.
