Indian Rupee at the lowest level, but still more to go
Indian Economy is ruled by Dr. Manmohan Singh, pioneer person who started the liberalization in India, Finance Minister P Chidambaram, Reserve Bank Governor and Raghuram Rajan, Advisor of UPA government plus the group of ministers who can take it to good heights. But actually now, we are getting low day by day.
It's the mistake they did is that they stopped reforms in the midway and waited for the warning. Now, our exports are very low and imports are peaking up. Industrial growth are considered to be 2% and agriculture growth remains the same.
USA, Europe and other advanced countries are just coming out of recession. The demand of the world is low but the price of foodstuffs in advanced countries are higher. India can take this opportunity and export half of the foodstuffs which is kept under the food security system. Right we have almost 39 million metric tonnes of foodgrain, which is rotting in the warehouses. As we export foodgrain, we will get a good chunk of dollars as foreign reserves. Apart from that when foreign dollars comes in Rupee will get stronger and come back to Rs. 55 per US$ 1. But our Finance Minister, Commerce Minister and Prime Minister don't know the Management. On the other side, if the individual who is saving money sees that Indian Rupee is loosing the shine, we've to better keep all the income in foreign currencies. Inflation is another way, we loose the value of money. In all way, the person who's working for fixed income will be biggest looser. When will they know?
It's the mistake they did is that they stopped reforms in the midway and waited for the warning. Now, our exports are very low and imports are peaking up. Industrial growth are considered to be 2% and agriculture growth remains the same.
USA, Europe and other advanced countries are just coming out of recession. The demand of the world is low but the price of foodstuffs in advanced countries are higher. India can take this opportunity and export half of the foodstuffs which is kept under the food security system. Right we have almost 39 million metric tonnes of foodgrain, which is rotting in the warehouses. As we export foodgrain, we will get a good chunk of dollars as foreign reserves. Apart from that when foreign dollars comes in Rupee will get stronger and come back to Rs. 55 per US$ 1. But our Finance Minister, Commerce Minister and Prime Minister don't know the Management. On the other side, if the individual who is saving money sees that Indian Rupee is loosing the shine, we've to better keep all the income in foreign currencies. Inflation is another way, we loose the value of money. In all way, the person who's working for fixed income will be biggest looser. When will they know?
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