US Federal Reserve Chairman Ben Bernanke's statement appears to have caused a free fall in the value of the rupee, or so the Reserve Bank of India would have us believe. But the value of the rupee vis-à-vis the dollar has been declining since August 2011. The economy will have to settle for a protracted slow growth or high growth with high infl ation. Else we will have to consider a radical reorientation of policy.
Subscribers please login to access full text of the article.
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.
Bibtex
Endnote
RIS
Google Scholar
Comments
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.