Rupee is not ringgit
As the rupee hits an all-time low, there are some things sensible people can hang on to. India is not in South-East Asia. Never was, and if lessons are learned in good time, never will be in the same situation. It has been known since late last year at least that the rupee was overvalued and a correction was due. Left to itself and the gentle ministrations of the RBI, depreciation might have been gradual. But it was inevitable and only a question of when it would occur.
| Ending the farce
As the charade of exchanging letters between the Prime Minister and the Congress president continues, there is no certainty when the political crisis will ultimately end. That the nation will have to pay a heavy price for the indecision of the political leadership is an understatement. A puritanical interpretation of the Constitution may even rule out the possibility of the President stepping in at this juncture.
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