Five reasons why rupee fall is good for the economy
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The Indian currency's sudden 3% fall in the new financial year to near Rs 64/dollar has raised concerns. However, with inflation under control, this decline may actually give a nudge to the economy that's struggling to climb higher, although foreign debt-heavy companies will suffer. ET explains.
1) Rupee is significantly overvalued, fall will boost competitiveness of economy
2) Depreciation To Support Struggling Exports, Spur Domestic Industry
3) Sectors With High Export Earnings Like IT and Pharma To Get A Boost
4) Indians Working Overseas Will Send More Dollars That Will Strengthen External Sector
5) Costlier Imports Will Give A Push To 'Make In India'
1) Rupee is significantly overvalued, fall will boost competitiveness of economy
2) Depreciation To Support Struggling Exports, Spur Domestic Industry
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