Financially, India is nearing a melt down


Indian rupee has depreciated more than 20 % against the dollar and nearly 50 % against the Chinese renminbi. Household savings , as a percentage of GDP , have plummeted to a 21 year low……..IIP numbers ,automobile sales & agriculture production are telling the sad story of how upper , middle and lower class are getting into this negative spiral 

Worse could happen , if Pakistan or China ups the military action seeing the financial problems of India ?

Rajendra Pratap Gupta

http://www.commonmansblog.com

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3 comments

  1. Mahesh Bakhai

    Dear Rajendraji, Let us put our heads to gather and decide alternative strategy of development which will be bottom up. Neo liberal economic prescriptions have not succeeded. Let us think Swadeshi. By Swadeshi I do not mean to lock our selves from any external participation. Swadeshi stands for self reliance and participation with external world based on our real needs and not on theoretical assumption which are propagated by multinationals and international finance lobby for their own benefit.
    Let us form a small group who will do the brain storming as a continues process. We may differ but need for an alternative strategy was never so urgent. Mahesh Bakhai 9869381130

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