I am not an Economist like our Prime Minister but what the Prime Minister has done to Indian Economy, his credentials as an Economist are doubtful. Either, he never studied Economics seriously, or his brain is depleted of even the basic tenets of Economics. With my commonsense, I had foreseen devaluation of Rupee long back from how Government of India leaders have been handling the Economy. This emboldens me to write through my commonsense on a subject I have never turned a leaf about. None need to be surprised at this. If an illiterate person or any idiot can be Prime Minister of India under the present condition of democracy in the country, I deserve much more to write about Economics.
A few days back, I saw a newspaper report about devaluation of Rupee under different Prime Ministers of India since independence in 1947, and I was not at all astonished to find that the devaluation had been faster whenever any member of Nehru family has headed the Government of India as Prime Minister. This family has always worked against interests of the Nation and her people to create more problems to common people for remaining in political power. Other political dynasties of India, including Abdullahs, Patnaiks, Karunakarans, Yadavas, Sindhias, Pilots, etc had been supporting the family with the same objective.
For the last 10 years or so, though a Sikh is the Prime Minister and another head of the Planning Commission, these are only symbolically in power, the real power rests with an Italian member of the Nehru family. There is proverb in India - 'Bitter gourd is the bitterest on a Margo tree'. Same way, a foreigner Nehru is the worst for the Nation and her people. This has been the first cause of the current devaluation of Rupee.
For the last 10 years or so, Government of India leaders have been doing their best to close all productive activities in the country and rising prices of every commodity. These two factors are closely correlated and co-effective in devaluation of Rupee. Purpose of political leadership concerned has been to show false economic progress of the nation with minimum local production but with high prices. The last decade long misrule in the country has provided a high momentum to both these factors, with the result that the two wheels keep on spinning at high speeds even without any external boost or some relevant cause. Prices keep on spiraling now due to their high momentum only.
High prices mean a low value of currency. This co-relationship is so strong that nothing else can beat it. So, firstly local value of Rupee has been made to be dwindling at a fast rate commensurate with rising prices. Low local production forces the nation to rely more on imports. Imported goods and locally produced goods are traded and consumed in togetherness, hence develop a strong price co-relationship. This makes imports too as pricey as the local production for which the nation is made to pay highly to foreigners in their respective currencies. This directly devaluates the local currency, Rupee in our case.
During my active lifetime of over half a century, I have witnessed about 40 times increment in prices with about the same times devaluation of Rupee. The difference in these two ratios could have been caused by local production but for malicious intentions of Nehru family. The most intense dose of rising prices was enacted under husband of the present Italian queen of India when salaries of government employees were increased three-fold all of a sudden with less of work from them. From that time to now, a period of about 25 years, Rupees has been sliding down from 12 a Dollar to now 65 a Dollar. The mixed governments in this period had worked to improve the situation but all that has been very successfully washed out by the present government managing a sharp doom for the Rupee from 45 for a Dollar in 2010 to 65 a Dollar now. This is due to the foolish Prime Minister under tab of a foreign queen.
The only way out for Indians is to minimize consumption of imported goods through increasing local production and changing consumption habits at individual levels. Else, we are in for a long-term doom. Another important lesson from the past Experience-India is to declare Nehru and other political dynasties in the country like Yadav and Kalyan in UP, Karunakaran in TN, Patnaik in OD, Abdullah in JK, Sindhia in MP, Pilot in Rajasthan, totally untouchable going beyond party-lines. Since, anti-nation and anti-people activities of these families have created this state of affairs, we need to respond drastically against all such miscreants. If we can't outcaste political dynasties from ruling powers at Union and State levels, we should not hope for resurrecting the Nation. This too requires action and alertness at individual levels. The present damage is so strong that it may not be possible to recover in the next decade or so even with a totally changed political leadership of the Nation.