Food Bill is worst thing to do now

The first thing to recognise is that the falling rupee is not the worst thing in the world. The Indian unit was overvalued for a while and therefore a correction was due, and had to take place. That is the first part. This correction could have been brought about by the government and the Reserve Bank of India in a very phased and controlled manner. Since they have failed to do, the market has taken a sort of a charge of this. The fear is that the rupee fall may continue and could convert itself into a free fall.

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