What is happening in the economy?

At this rate what will happen to the economy and the masses. People are losing their sleep as they are unable to understand or secure their life economically, socially and physically. As on today, a hundred rupee note can at best fetch a kg of Onion and perhaps one Kg of Potato. And there are people who have not seen or handled even hundred Rupee note. What is this Government doing for the masses. The equitable management of the economy has been given a go by and a few who are after power and money are allowed to dictate. The RBI and the Govt have no targets for rupee dollar rate but some segments of the market have a definite target and they are able to pull down the rupee the way they want. Mismanagement of the domestic economy is the root cause for all these evils and creation of wealth by a few at the cost of majority of the masses have taken the economy to such a pass. Absence of the Governance system which is the very essence of keeping the economy on track has led to this state of affairs and for this the bureaucracy and the Government in power are only answerable.Now the task is really difficult.

Dr.T.V.Gopalakrishnan

(This comment appeared in Business line in response to an article " Dollar Demand sinks the rupee" in BL dated 28/8/13).