I agree, we should not just devalue rupee for nothing. We should rather adjust surplus Dollar by buying more. And reducing Import duties on these imported goods, which we buy more.
One such thing is Crude oil ( If we buy it more and reduce Excise as well as customs on it) we will directly impact Inflation at home. We will increase domestic productivity by reducing cost of transporattion / it will reduce cost of production. That will impact both Cost of products with in India as well as exports.
Unfortunately Govt wants to spend this money in Malls where they will keep Luxury watches / cameras / imported garments / Sarawosky crytels That will do nothing but fill the pockets of ploiticians as they have investment in thses MALLS and imports. Where as these ploiticians can not take money out of Refineries / gas stations etc if petrol and Diesel prices are reduced.
