The export lobby, psuedo economists and dumb media - a powerful body of vested interests, are raising the rupee appreciation bogey again. What does this mean for the common man? If the rupee appreciates, the export wallahs who have been living off the fat of the land ( subsidised land, artificially depressed rupee etc) will have to make do with lesser profits. Psuedo economists who have no clue about how and why currencies appreciate will press for state controls to indulge their whims. Dumb and corrupt journalists will float stories based on who is footing their bills. The facts: India's GDP according to PP is 4.156 trillion $ acc to the official exchange rate it is 804 billion dollars. This shows the gap between reality and our inferiority complex fuelled by the vested interests of exporters and crooked bureaucrats/ politicians who would like to protect their foreign currency savings stashed away abroad. A strong currency will mean cheaper and affordable imports from other countries, including the USA. IF a few lakhs of people who have been leading a parasitical existence based on the depressed rupee get to be jobless- too bad. Hundreds of millions will benefit from deflation. The greatest good for the greatest number- that's what democracy is about! Vikramaditya
