There is broad agreement that the rupee is overvalued, with estimates of overvaluation ranging from 20-40 per cent. There are, however, two opposing views on how to deal with the problem:
One, devaluation and two, administrative measures, i.e., export subsidies and regulatory duties on imports.
The argument of the anti-devaluation group is that devaluation has never...
10 Nov 2017 | Naved Hamid, Azka Sarosh Mir
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