After having presented a Budget that was destined to lead to inflation (my estimate is 8.83%) this government will now drain away forex reserves through imports, reduce import duty and cry over drop in revenues, then go and devalue the rupee and prop up the American Dollar. a government that says that it does not have 50,000 crores to interlink rivers writes off 60K crores loans against a NPA of 10K crores. The FM does not have means of reimbrursing the bank sector the loss due to the loan write off. Mr. FM and Mr PM where is fiscal prudence all that you want is your chair. Get your economics thinking right
Do you know that lately the forex reserves are not much sought after because of considerable devaluation in Dollar and appreciation in rupee. The RBI has not controlled the rise in Re. that it previously used to because it wants more liquidity in Indian markets.
