BJP, opposition MPs spar in commerce panel over suggestion to discuss weakening rupee
Oct 31, 2022
By Payal Mehta
New Delhi [India], October 31 : At its first meeting since the appointment of Congress leader Abhishek Manu Singhvi as chairman, the Parliamentary Standing Committee on Commerce on Monday discussed various issues that are to be taken up by the panel in the coming year.
Singhvi suggested that the committee should take up the issue of the rupee weakening against the dollar and its impact on trade and commerce activities.
Members of Parliament from Bharatiya Janata Party (BJP) argued that the suggestion to discuss weakening rupee was preposterous as it was a dynamic situation and the issue also has a historical legacy, and if, in the near future, the value of the rupee appreciates, the whole exercise taken up by the committee would turn futile.
Opposition MPs countered the BJP MPs by saying that it was an important issue that needed to be discussed because its impact on small traders and businesses needs to be assessed.
Some other suggestions that were given for the committee's agenda were international trade and commerce policies including tariff and non-tariff barriers, trade remedies and safeguard measures and the work of international agencies connected with trade.
Sources said international commodity agreements other than those relating to wheat, sugar, jute and cotton, international customs tariff, work related to the Tariff Commission and India Trade Promotion Organisation were among subjects discussed that would be taken up by the panel.
Shiv Sena's Priyanka Chaturvedi, RLD's Jayant Chaudhary, BJP's Raju Bista, Nishikant Dubey and TRS' Nama Nageswara Rao were among the MPs who attended the meeting.
