Economy on cusp of crisis

The steady decline of the Indian rupee, even at a time both the American and European economies are deeply unsettled, may be greeted with whoops of delight in circles that specialise in body shopping from India. However, for those who have a stake in the well-being and prosperity of the Indian consumer, the decline of the rupee is bad news. It means higher fuel prices, higher prices of imports (which, sooner rather than later, will also come to include foodstuff) and high inflation.

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