There was a conspiracy behind the dramatic fall of the rupee in recent days, Narendra Modi, Gujarat chief minister, said. "Till November, the rupee was stable, and after that it began to slide and has lost 25% of its value,” he said. “What caused this sudden fall? How did it happen?”
Positioning himself as the country's shadow prime minister, Modi blamed Manmohan Singh, prime minister, for the corruption and the economic ills facing the country. "I run a government and I can tell you that it is not possible for the rupee to fall so fast so suddenly. And why hasn't the currencies of Bangladesh, Pakistan or Nepal fallen? Why only India's currency?" Modi was addressing gathering of around 3,000-4,000 people at the BJP's rally in Parel, Mumbai to mark the end of its two-day national conclave. The rally clearly sounded the bugle for the 2014 elections, with him and other leaders urging the people to throw out the "incompetent, inefficient, and corrupt UPA government". Modi's arrival at the venue was greeted with applause and cheers. He began his speech in Marathi before switching to Hindi. He said BJP states had performed far better than Congress-ruled states. "In the 20-point programme, the top five performers were BJP or NDA states, and I pointed this out to the central government," he said. "The UPA responded not by improving the work in Congress states but by stopping to publish the performance of various states." Once Modi's speech was over, about a third of the audience left the venue without waiting to hear BJP president Nitin Gadkari speak.