Depreciation of Rupee: Is it a Powerful Tool to Drive Growth and Employment?

The Pathfinder Foundation strongly supports the depreciation of the Rupee by three percent announced in the Budget Speech. The Economic Alert – 15 called for early remedial action to address the deteriorating trade balance; the buildup of foreign commercial debt/increased debt servicing; and the decline in non-borrowed reserves and running down of extremely large amounts of the country’s foreign reserves defending the Rupee.