ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
-A A +A

The Silent Tug-of-War

Whether the country would however save foreign exchange is a matter of conjecture. The sellers of unofficial foreign exchange are primarily a large number of Indians abroad who have to remit something to their families in India. That remittance is bound to come and if there is no free-market it will come through the official channels. On the other hand other sellers of unofficial Exchange are exporters who retain a part of export proceeds abroad. If there is no incentive to sell dollars at free A POLITICAL COMMENTARY market prices, the export proceeds may And its way to Swiss Banks rather than Indian ones. In the balance I am entirely in support of Professor Gulati's proposal

Subscribers please login to access full text of the article.

New 3 Month Subscription
to Digital Archives at

826for India

$50for overseas users

Get instant access to the complete EPW archives

Subscribe now

Comments

(-) Hide

EPW looks forward to your comments. Please note that comments are moderated as per our comments policy. They may take some time to appear. A comment, if suitable, may be selected for publication in the Letters pages of EPW.

Back to Top