Indian Rupee Crisis of 2013 Case Study Help
Recommendations
On account of the current situation; the government is recommended to reduce its dependency over foreign oil through renewable and domestic energy. The government should also design supply side polices with core consideration over improving the competitiveness. Additionally, the design of the effective financial controls would help in limiting the amount of gold import, in order to reduce the current account deficit.(Pettinger, 2019).
Furthermore, the Indian government needed to increase the limit of foreign direct investment (FDI) in the existing sectors, and to create stable economic and political environment for the purpose of making India one of the attractive destinations for foreign investment. Not only this, the immediate action should be taken by the Reserve Bank of India and sell forex reserves &they should buy Indian rupees in order to avoid further decline in the value of Indian currency. The government should also make exports more competitive and increase the interest rates,in order to attract some massive cash flows, to overcome further currency depreciation.........................
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