The depreciation affects the common man more than any body through inflationary
pressures has not been highlighted. Importers and borrowers of money from abroa,
students and tourists going abroad are also affected badly and of these some are
avoidable. import of gold particularly by banks and the Govt for sale of gold
coins can be completely curtailed for sometime. Tourism can be given a go bye
for a temporary period. Like that unnecessary imports can be reduced or avoided
totally. There are measures but willingness is that matters. The Govt has to
take the initiative.
(This appeared in ET dated 23/06/12 in response to an Article Rupee depreciation who gains who loses)
(This appeared in ET dated 23/06/12 in response to an Article Rupee depreciation who gains who loses)
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