Since prime minister Narendra Modi came to power in 2014 the Indian fiat paper currency rupee has depreciated by 55% against the US dollar. During the Manmohan Singh era that depreciation was 33%. But, not just with the US dollar, it has depreciated significantly against UK pound (25%), Euro (30%), Swiss Franc (60%), and Singaporean […]
Tag Archives: Modi
15
Jan
Jan
The Indian government and public never get tired of bragging about their economy’s size, and it’s growth rate. For example, India’s economic growth is estimated to surge past most initial private and official forecasts, backed by robust domestic demand and government spending, helping New Delhi cope with punitive U.S. tariffs. The near $4 trillion economy […]
18
Oct
Oct
Newspaper Hindustan Times reported, ‘One Route, One Fare’ scheme launched by Govt. airline. Government-owned Alliance Air has launched the “Fare se Fursat” fixed airfare scheme, which essentially means that the fare will remain constant regardless of the time of booking. Before I write anything about the consequences of this new government “scheme” of One Route, […]
15
Jul
Jul
The science of economics tells us that society’s resources are scarce, and we should use them with extreme care to make sure we do not waste them. The goal of every human action is to fulfill as many needs as possible using those scarce resources. There are two major economic systems that any economy can […]
09
Jun
Jun
Of late there are lots of economic falsehoods being spread around about India’s economy by the Modi government, and it’s lapdog media. The first one being India becomes the fourth-largest economy of the world, overtaking Japan, and the second is its extreme poverty rate declining to 5.3% after the World Bank raised its poverty line […]