Developing countries keep struggling to hold their country’s currency exchange value vs. US Dollar. Indian economy is growing on average by 7% for last couple of years but still losing rupee value which impacts day to day life of common man. India aims to be Viksit Bharat by 2030 which would remain a distant dream unless and until India takes hard policy decisions to restrict use of hard earned foreign exchange judiciously and provide assistance to poor farmers/ small scale exporters through interest free loans/tax exemptions.
Foreign Portfolio Inflows must be regulated for long term growth of stock markets. Too much volatility has allowed hot money to flow in and out of the country which impacts stability of stock markets. There are no shortcuts to development of the country. Nation building requires stable and strong currency to manage growth in the interlinked global economy/world trade.
