Indian Economy has nose-dived. Rupee hit lifetime low of 57.54
against dollar. There were warnings from experts that if the trend continued,
and the Government failed to take remedial actions, rupee may fall further to
dollar and may hit 60 in the near future. This is quite untoward in a country ruled by an economist with the assistance of several
economic advisers.
It is true that our
political parties are busy with their party work and spend time in building
party funds and other fortunes. They take little time to talk about the
deteriorating economical conditions in the country. Many party heads think that
their party is a private limited company and are hesitant to answer even an RTI
query. Would the Congress party and the minister in
charge of economic affairs own the responsibility for the present deplorable condition
of Indian economy?
The prices of all essential commodities have sky-rocketed.
One kg of branded rice costs Rs 50 in Kerala. Prices of vegetable and fish are
exorbitant. The government, which is capable of restricting prices, stands as a
mute spectator. People lost faith in
rupee and are unenthusiastic in investing in rupee. If not checked the buying
power of rupee will soon touch the floor.
K A Solaman
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