The devaluation of Indian currency is taking place steadily and there seems to be no substantial policy intervention to contain it. The happy hour for export industry is noteworthy in this regard. But how much they gain from the loss of Indian economy is a matter of grave concern.
The fall of Indian rupee has become a joke around the world. What a tragedy! These are signs and after effects of wrong economic policies of the UPA government. In the world history there are many such previous instances: Zimbabwe, Myanmar, Iraq, and Lebanon to mention a few, all these countries had to forfeit their currencies. Manmohan Singh or Chidambaram may not be there as the prime minister or as the Finance Minister permanently either to reap the benefits or engage in scuffle for losses due to the liberal economic policies introduced by the 2nd UPA government. When India won independence in the year 1947 1 Rupee was equal to 1 US$ and as reported today US$ 1=Rs 60! This is really the 60th anniversary gift for India's Independence. This problem is not a new like born boy awaiting his naming ceremony; but a prolonged continuous ailment due to total lack of proficient, firm foresighted economic policies of ruling government in the hands of politicians. But during Manmohan Singh regime rupee fall was faster, audible, and viewable like an apple; but no theory came out like the 'law of gravitation' when an apple fell on Sir Isaac Newton's head.
The entire world is not came out of the Recession which started from the end of the year 2008, still some nations are seriously suffering like Indonesia has gone bankrupt once the recession started. and come to INR it will not come to the value when it was 19 INR per $ it may go up and up, will directly help the Indian IT companies.
This fall is not self created in connivance of IT company as there are some big giants in the game as named in the story, and apart from the fact that US is seriously thinking about outsourcing work in IT sector to stop it. so reasons and apprehension is genuine may be another scam of money laundering to see the fall of rupee.
