"I have full faith that the steps taken by the government will be successful, but it will take time. Everyone is concerned-the country and the Prime Minister are concerned-and that's why these steps are being taken because this impacts every aspect of daily life. If there is a need for the government to take additional tough steps, they will do it. Whatever is needed will be done to bring the situation under control," Soni said.
The Congress-led UPA Government has been under severe criticism after the value of the rupee has been constantly depreciating.
Earlier today, Communist Party of India leader D. Raja slammed the ruling Congress-led UPA Government for insisting on its neo-liberal policies, and said that the Centre has ensured that there is no scope of revival of the Indian economy.
"As a nation, we will have to think about it. Now, the government will have to rework its neo-liberal economic policies, ...so that the economy can be saved. There is no hope for the revival of the Indian economy," Raja said.
On Monday, Bharatiya Janata Party (BJP) President Rajnath Singh also deemed the ruling party incapable of reviving the Indian economy.
"I believe that the economic situation of the country has not been worse in independent India. Even several international agencies are pondering on whether India's economy will be able to revive or not. The government is failing to take effective steps to revive, restart and recharge the economic situation in the country," Singh said.
On August 17, the Communist Part of India (Marxist) and the Janata Dal (United) asked the Central Government to strengthen the infrastructure around domestic markets, instead of concentrating on foreign investment into the country.
Earlier today, the rupee reached its historic low touching of 64.11 against the US dollar.
--ANI (Posted on 20-08-2013)